Margaret Sankey's Reviews > Lords of Finance: The Bankers Who Broke the World

Lords of Finance by Liaquat Ahamed
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's review
Jul 23, 2011

really liked it

You know 1929 and Hoover, and John Maynard Keynes, but who remembers Montague Norman of the Bank of England, Emile Moreau of the Banque de France, Hjalmar Schacht of the Reichsbank and Benjamin Strong of the Federal Reserve New York? Their reaction to the economic carnage of WWI set the stage for the policies of the 1920s (devalue or deflate, that is the question) and the political ramifications of the 1930s. Ahamed does an excellent job explaining complex economic activity like the flow of gold while mining primary sources for the personal relationships among these gray gnomes who, behind the scenes, decided the fate of the 20th century.

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