Once in Golconda (Wiley Investment Classics) |
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You Are Here: Home > History Books > Czarist Russia > Item 133
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Once in Golconda (Wiley Investment Classics)
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by John Brooks
Sales Rank: 51219
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List Price: $24.95
$22.45
At Amazon
on 11-1-2008.
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Features
Cover Type: Paperback with 307 pages
Published by: Wiley September 21, 1999
Written in: English
ISBN 10 Number: 0471357529
ISBN 13 Number: 978-0471357520
Book Dimensions:
8.5 x 5.4 x 0.9 inches
Weighs: 1 pounds
Product Review
Ever since the first storyteller told of a poor but shrewd peasant finagling a royal fortune away from an overconfident king and his negligent Viziers, people everywhere have been willing to listen or read variations of the archetype. Mr. Brooks, a superb anecdotalist, has made just such a story of Wall Street between the World Wars. He's personalized the story that economists have tried to tell through unusual figures and more formal historians have outlined in terms of political/financial-action/reaction. Adroit sketches of the men behind the unbridled manipulation of the nation's money during this period allow Brooks to show the social, as well as the political and economic, aspects of the N. Y. Stock Exchange. This story's shrewd peasants are the emerging Irish-American plungers and those from the German Jewish-American investment houses, who were permitted to play but carefully kept off the clubby committees through which the government allowed Exchange members to regulate themselves. The king is Morgan and the viziers are the "fine old American stock" brokers and lawyers who saw themselves as the natural equals (and perhaps betters) of statesmen. And, the grandest, gaudiest vizier of all was Richard Whitney, whose rise to the presidency of the Exchange and fall to prison for dealing-and-stealing rivals a fable for poetic justice. His career is traced throughout the eighteen years; its end signalled the government's searchlights and brooms in our Golconda (the diamond center of old India where all men were said to be able to get rich). Big Board nonfiction headed for a big, non-bored readership. (Kirkus Reviews)
Product Description
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." -From the Foreword by Richard Lambert Editor-in-Chief, The Financial Times 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. Praise for Once in Golconda "A fast-moving, sophisticated account.embracing the stock-market boom of the twenties, the crash of 1929, the Depression, and the coming of the New Deal. Its leitmotif is the truly tragic personal history of Richard Whitney, the aristocrat Morgan broker and head of the Stock Exchange, who ended up in Sing Sing." -Edmund Wilson, writing in the New Yorker "As Mr. Brooks tells this tale of dishonor, desperation, and the fall of the mighty, it takes on overtones of Greek tragedy, a king brought down by pride. Whitney's sordid history has been told before..But in Mr. Brooks's hands, the drama becomes freshly shocking." -Wall Street Journal "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." -Saturday Review
Reader Reviews
This review is from: Once in Golconda: A True Drama of Wall Street 1920-1938 (Hardcover)
This is a very good book. The book follows the 1920s and 30s stock market from the corner in Stutz stock (on which only people who were long originally gained) to the demise of the aristocratic Richard Whitney. It could be fiction except that you see the similarities all around. The description of 1929 is the best I have read. I wish I was there to see Whitney make the most famous bid in all stock exchange history (10 thousand US Steel at 205). I too would have fallen under his spell. And I too would have been shocked and scandalised by his eventual downfall. Read this and make your judgement. Are you too taken in by the image of today's high flier? Or are you above that? Some people are. I am not sure I am
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Once in Golconda (Wiley Investment Classics)
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Price: $22.45
Updated on 11-1-2008.
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