About For Books The City of London, Volume 4: A Club No More, 1945-2000 For Online
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In the culminating volume of his universally acclaimed history, David Kynaston leads us through the dramatic post-war years, from derelict bomb-sites to shimmering skyscrapers. After the dark days when the dollar reigned supreme, when overseas investments were devastated and international debts were staggering, we watch London slowly reassert itself as the financial capital of the world. There are great characters and fierce battles: the desperate attempts of successive governments to keep sterling high; the bitter divide between industry and the City; the routing of the establishment by Siegmund Warburg in the Aluminum War of the late 1950s. This was the City's first step in the long revolution that followed, and through a wealth of hitherto unpublished oral testimony, David Kynaston shows its impact, particularly on the Stock Exchange, reaching a climax in the Big Bang of 1986 when screen trading replaced the old market floor, and the 'old' City of small independent firms vanished almost overnight.The 1980s and 1990s were tumultuous decades - with the Lloyd's, Guinness and Maxwell scandals, the coming of the high-octane 'yuppie' trader, the Crash of 1987, the unstoppable rise of the international capita markets and the 'bulge-bracket' American investment banks, the sensational story of Nick Leeson and the collapse of Barings, the granting of independence to the Bank of England, the coming of the euro. David Kynaston's pioneering account draws together, for the first time, all the diverse threads.Rich in narrative detail, intimate and immediate, yet cool in appraisal, this is history on the grand scale, indispensable reading for anyone interested in the City, and in the forces that created the Britain of today.
In the culminating volume of his universally acclaimed history, David Kynaston leads us through the dramatic post-war years, from derelict bomb-sites to shimmering skyscrapers. After the dark days when the dollar reigned supreme, when overseas investments were devastated and international debts were staggering, we watch London slowly reassert itself as the financial capital of the world. There are great characters and fierce battles: the desperate attempts of successive governments to keep sterling high; the bitter divide between industry and the City; the routing of the establishment by Siegmund Warburg in the Aluminum War of the late 1950s. This was the City's first step in the long revolution that followed, and through a wealth of hitherto unpublished oral testimony, David Kynaston shows its impact, particularly on the Stock Exchange, reaching a climax in the Big Bang of 1986 when screen trading replaced the old market floor, and the 'old' City of small independent firms vanished almost overnight.The 1980s and 1990s were tumultuous decades - with the Lloyd's, Guinness and Maxwell scandals, the coming of the high-octane 'yuppie' trader, the Crash of 1987, the unstoppable rise of the international capita markets and the 'bulge-bracket' American investment banks, the sensational story of Nick Leeson and the collapse of Barings, the granting of independence to the Bank of England, the coming of the euro. David Kynaston's pioneering account draws together, for the first time, all the diverse threads.Rich in narrative detail, intimate and immediate, yet cool in appraisal, this is history on the grand scale, indispensable reading for anyone interested in the City, and in the forces that created the Britain of today.