Taming the Street - Hardback Book - The Old Guard, the New Deal, and FDR's Fight to Regulate American Capitalism - by Diana B. Henriques - 9780593132647 - Random House USA Inc

“I thought I was well versed in the New Deal, but it turns out I knew next to nothing. Diana Henriques’s chronicle is meticulous, illuminating, and riveting.”—Kurt Andersen, New York Times bestselling author of Evil Geniuses and Fantasyland

WINNER OF THE SABEW BEST IN BUSINESS BOOK AWARD • A BLOOMBERG BEST BOOK OF THE YEAR

Taming the Street describes how President Franklin D. Roosevelt battled to regulate Wall Street in the wake of the 1929 stock market crash and the ensuing Great Depression. With deep reporting and vivid storytelling, Diana B. Henriques takes readers back to a time when America’s financial landscape was a jungle ruled by the titans of vast wealth, largely unrestrained by government. Roosevelt ran for office in 1932 vowing to curb that ruthless capitalism and make the world of finance safer for ordinary savers and investors. His deeply personal campaign to tame the Street is one of the great untold dramas in American history.

Success in this political struggle was far from certain for FDR and his New Deal allies, who included the political dynasty builder Joseph P. Kennedy and the future Supreme Court justice William O. Douglas. Wall Street’s old guard, led by New York Stock Exchange president Richard Whitney, fought every new rule to the “last legal ditch.” That clash—between two sharply different visions of financial power and federal responsibility—has shaped how “other people’s money” is managed in the United States to this day.