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The Day the King Defaulted
- Financial Lessons from the Stop of the Exchequer in 1672
Engelsk
Bogcover for The Day the King Defaulted af Moshe Arye Milevsky, 9783319599861
Specifikationer
Sprog:
Engelsk
Sider:
218
ISBN-13:
9783319599861
Indbinding:
Paperback
ISBN-10:
3319599860
Kategori:
Udg. Dato:
2 okt 2017
Størrelse i cm:
14,7 x 20,8 x 2,5
Oplagsdato:
2 okt 2017
Forfatter(e):

The Day the King Defaulted

- Financial Lessons from the Stop of the Exchequer in 1672
Engelsk
Paperback 2017
Format:

Bog beskrivelse
This book studies King Charles II''s decision to stop all payments from his royal exchequer, a sordid but little-known event in English history with eerie similarities to the cause of the Great Recession of 2008. As with any modern banking crisis, the financial system in 1672 almost collapsed, day-to-day commerce ground to a halt, houses were lost, and ordinary investors suffered—but there was no banking bailout, and no mercy for the goldsmith-bankers who had lent the king millions to fund his unsustainable lifestyle. The royal decision, made in the wake of plagues, fires, and war with the Dutch, left bankers unable to cover their own liabilities and, in the days before bankruptcy, they couldn’t walk away from their obligations and start fresh. Many bankers spent the end of their lives in debtors'' prison, but English commoners had little sympathy for the plight of rich financiers—a sentiment echoed after the financial crisis of 2008. Ultimately, this book tells the complete story of theMerry Monarch''s financial default (England''s first and last) using the lens and language of modern financial products and markets. It covers the precarious history leading up to the infamous day in 1672, the intrigue surrounding the ‘stop’—including those who traded on inside information beforehand—and the attempt by distressed creditors to gain financial restitution.
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Specifikationer
Sprog:
Engelsk
Sider:
218
ISBN-13:
9783319599861
Indbinding:
Paperback
ISBN-10:
3319599860
Kategori:
Udg. Dato:
2 okt 2017
Størrelse i cm:
14,7 x 20,8 x 2,5
Oplagsdato:
2 okt 2017
Forfatter(e):
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