Lords of Finance: The Bankers Who Broke the World

by Liaquat Ahamed

Not every mistake is a foolish one. —CICERO

At particular times a great deal of stupid people have a great deal of stupid money. . . . At intervals . . . . the money of these people—the blind capital, as we call it, of the country—is particularly large and craving; it seeks for someone to devour it, and there is a “plethora”; it finds someone, and there is “speculation”; it is devoured, and there is “panic.” —WALTER BAGEHOT