Ron Chernow: The Death Of The Banker: The Decline And Fall Of The Great Financial Dynasties And The Triumph Of The Small Investor

Like it or not, the world's energy, resources and power are measured in units of money, a shared hallucination of value upon which the world has run for hundreds of years. In the 20th century, changing regulations, economic upheaval and the emergence of middle-class investors have begun to change the hallucination in subtle and important ways. Ron Chernow, who has written surprisingly candid and entertaining books on the great banking families Morgan and Warburg, has explained the new movements in credit and capital, and managed to make them, well, kind of fun. Chernow enjoys the business world, and his eagerness to share his fascination translates quite well into this little book. But the best thing about The Death Of The Banker is Chernow's obvious dislike for those who are consumed with their own wealth and influence. When imperious J.P. Morgan's cloistered banking houses gave way to the mall-booth brokers of Dean Witter, the arrogance remained intact, and in Chernow's hands it's good reading. If you're interested in the genuinely important ebb and flow of money, but can't stand the people who have it, this fine book is just what you need.