Wall Street: A History: From Its Beginnings to the Fall of Enron Revised and Expanded Edition
Author(s): Charles R. Geisst (Author)
Publisher: Oxford University Press
Publication Date: June 2 2004
Edition: Revised and Expanded
Language: English
Print length: 448 pages
ISBN-10: 019517061X
ISBN-13: 9780195170610
Book Description
In the seven years since the publication of the first edition of Wall Street, America’s financial industry has undergone a series of wrenching events that have dramatically changed the nation’s economic landscape. The bull market of the 1990’s came to a close, ushering in the end of the dot com boom, a record number of mergers occurred, and accounting scandals in companies like Enron and WorldCom shook the financial industry to its core. In this wide-ranging volume, financial historian Charles Geisst provides the first history of Wall Street, explaining how a small, concentrated pocket of lower Manhattan came to have such enormous influence in national and world affairs. In this updated edition, Geisst sums up the recent turbulence that has threatened America’s financial industry. He shows how in 1997 thirty NASDAQ market makers paid a record $1.3 billion fine for price irregularities in stocks. He makes sense of the closing of the bull market, and explains a major change in the accounting rules for mergers that caused monumental losses for companies like AOL Time Warner. And he recounts how in the aftermath of the speculative fever that swept Wall Street in the 1990’s, the scandals at Enron, Tyco, Worldcom, and Conseco represent a last gasp of mergermania and a fallout from a bubble-like market. Wall Street is at once the story of the street itself, from the days when the wall was merely a defensive barricade built by Peter Stuyvesant, to the modern billion-dollar computer-driven colossus of today. In a broader sense it is an engaging economic history of the United States, the role Wall Street played in making America the most powerful economy in the world, and the many challenges to that role it has faced in recent years.
Editorial Reviews
Review
Praise for the first edition: “A thorough retelling of a critical–though often overlooked–aspect of U.S. history.”–The Wall Street Journal”A quick-reading history of the United States as told through the doings of bankers and brokers.”–The Washington Post”Geisst has produced a sweeping history of Wall Street, from its inception as an outdoor market to its current status of global financial center…. This lively narrative is a good survey of American economic history that puts Wall Street at the forefront.”–History”Charles Geisst is an assiduous chronicler of these lively battles. He has done his homework.”–The Times (London)”A splendid synthesis of [the field of U.S. financial history] and assuredly will be recognized as a classic in it.”–The Social Science Journal”A fascinating chronicle of the evolution of America’s securities industry and of its role in building the world’s most powerful capitalist society.”–The Economic Times (India)
Book Description
A masterful revision of the first history of Wall Street, ranging from 18th-century sidewalk traders to the billion-dollar computer-driven colossus of today
About the Author
Charles R. Geisst is Professor of Finance in the School of Business, Manhattan College, and author of Wheels of Fortune and Deals of the Century.
Wall Street: A History: From Its Beginnings to the Fall of Enron Revised and Expanded Edition
Author(s): Charles R. Geisst (Author)
Publisher: Oxford University Press
Publication Date: March 3 2004
Edition: Revised and Expanded
Language: English
Print length: 488 pages
ISBN-10: 0195170601
ISBN-13: 9780195170603
Book Description
In the seven years since the publication of the first edition of Wall Street, America’s financial industry has undergone a series of wrenching events that have dramatically changed the nation’s economic landscape. The bull market of the 1990’s came to a close, ushering in the end of the dot com boom, a record number of mergers occurred, and accounting scandals in companies like Enron and WorldCom shook the financial industry to its core. In this wide-ranging volume, financial historian Charles Geisst provides the first history of Wall Street, explaining how a small, concentrated pocket of lower Manhattan came to have such enormous influence in national and world affairs. In this updated edition, Geisst sums up the recent turbulence that has threatened America’s financial industry. He shows how in 1997 thirty NASDAQ market makers paid a record $1.3 billion fine for price irregularities in stocks. He makes sense of the closing of the bull market, and explains a major change in the accounting rules for mergers that caused monumental losses for companies like AOL Time Warner. And he recounts how in the aftermath of the speculative fever that swept Wall Street in the 1990’s, the scandals at Enron, Tyco, Worldcom, and Conseco represent a last gasp of mergermania and a fallout from a bubble-like market. Wall Street is at once the story of the street itself, from the days when the wall was merely a defensive barricade built by Peter Stuyvesant, to the modern billion-dollar computer-driven colossus of today. In a broader sense it is an engaging economic history of the United States, the role Wall Street played in making America the most powerful economy in the world, and the many challenges to that role it has faced in recent years.
Editorial Reviews
Review
Praise for the first edition: “A thorough retelling of a critical–though often overlooked–aspect of U.S. history.”–The Wall Street JournalPraise for the first edition: “A quick-reading history of the United States as told through the doings of bankers and brokers.”–The Washington PostPraise for the first edition: “Geisst has produced a sweeping history of Wall Street, from its inception as an outdoor market to its current status of global financial center…. This lively narrative is a good survey of American economic history that puts Wall Street at the forefront.”–HistoryPraise for the first edition: “Charles Geisst is an assiduous chronicler of these lively battles. He has done his homework.”–The Times (London)”A splendid synthesis of [the field of U.S. financial history] and assuredly will be recognized as a classic in it.”–The Social Science Journal”A fascinating chronicle of the evolution of America’s securities industry and of its role in building the world’s most powerful capitalist society.”–The Economic Times (India)”An important and entertaining commentary for anyone interested in understanding the role of Wall Street in the development of the U.S. into an economic superpower.”–James R. Barth, Lowder Eminent Scholar in Finance, Auburn University
Book Description
A masterful revision of the first history of Wall Street, ranging from 18th-century sidewalk traders to the billion-dollar computer-driven colossus of today
About the Author
Charles R. Geisst is Professor of Finance in the School of Business, Manhattan College, and author of Wheels of Fortune and Deals of the Century.
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