Wall Street: A History

Wall Street: A History

Wall Street is is a universal symbol of both the highest aspirations of economic prosperity and the basest impulses of greed and deception. Charles R. Geisst's Wall Street is a chronicle of the street itself-from the days when the wall was merely a defensive barricade built by Peter Stuyvesant to the latest highs and lows. It is also an engaging economic history of the United States, a tale of profits and losses, enterprising spirits, and key figures that transformed America into the most powerful economy in the world. The book traces many themes, like the move of industry and business westward in the early 19th century, the rise of the great Robber Barons, the growth of industry from the securities market's innovative financing of railroads, and Bell's and Edison's technical innovations. And because "The Street" has always been a breeding ground for outlandish characters, no history of the stock market would be complete without a look at the conniving of ruthless wheeler-dealers and lesser known but influential rogues. This updated edition covers the slow recovery following the lowest points of the Great Recession and the tensions of regulation. Geisst illustrates the cyclical nature of Wall Street as recent crises are strikingly reminiscent of past economic failings. As Wall Street and America have changed irrevocably after the crisis, Charles R. Geisst offers the definitive chronicle of the relationship between the two, and the challenges and successes it has fostered that have shaped our history. "A thorough retelling of a critical-though often overlooked-aspect of U.S. history. Wall Street will be enjoyed not just by the warriors who work there but also by the growing legions of Main Street investors whose retirements depend on the fortunes of the stock market."- The Wall Street Journal An update of the authoritative history of Wall Street and its role in economic history. Charles R. Geisst is Ambassador Charles A. Gargano Professor of Finance at Manhattan College and a former investment banker. He is the author of 19 other books, including most recently Loan Sharks: The Birth of Predatory Lending .