Once in Golconda: The Great Crash of 1929 and its aftershocks
The Great Crash of 1929 and its aftershocks
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Once in Golconda "In this book, John Brooks-who was one of the most elegant of all business writers-perfectly catches the flavor of one of history's best-known financial dramas: the 1929 crash and its aftershocks. It's packed with parallels and parables for the modern reader."
Once in Golconda is a dramatic chronicle of the breathtaking rise, devastating fall, and painstaking rebirth of Wall Street in the years between the wars. Focusing on the lives and fortunes of some of the era's most memorable traders, bankers, boosters, and frauds, John Brooks brings to vivid life all the ruthlessness, greed, and reckless euphoria of the '20s bull market, the desperation of the days leading up to the crash of '29, and the bitterness of the years that followed.
"It's all there in Once in Golconda-the avarice of an era that favored the rich; and the later anguish of myriads of speculators doomed by a bloated market, easy credit, and their own cupidity and stupidity."
One of the great Wall Street books
John Brooks, for many years The New Yorker's man on Wall Street, wrote several books on episodes of Wall Street's history. Most people consider this one his best, covering the roaring 20's and the crash. The main story line of the book deals with the relationship between the bankers of JP Morgan and their representative at the NYSE, the notorious Jock Whitney. Once in Golconda is a great read and I hope Brooks' other Wall Street history, The Go-Go Years (1960-73) will be available soon