Every Man a Speculator: A History of Wall Street in American Life

Formorethantwohundredyears,Americanshaveenjoyedalove-haterelationshipwithWallStreet.Longanobjectofsuspicionandfear,iteventuallycametobeseenasamoreinvitingplace,anopenroadtowealthandfreedom.Peelingawaythelayersofmythsurroundingthisfabledstreet,SteveFrasershowsthattheremarkabletransformationofWallStreetasaculturalicon--itsodysseyfromperditiontosalvation,fromdarknessintolight--isastorythatgoestotheheartoftheAmericancharacter.Longbeforewebecameashareholdernation,backwhenonlyaminusculepartofthecountry'spopulationinvested,WallStreethadalreadyprovokedAmerica'scollectiveimagination.FromthedayswhenAlexanderHamiltonwasforcedtoconfesshismaritalinfidelitiesinordertodefendhisvisionoftheRepublic'sfinancialfuture,toGordonGekko'smantra"Greedisgood"inthemovieWallStreet,Americanshavealwaysbeenpreoccupiedwiththevirtuesandsinsofthestockmarket.Indeed,WallStreetistheplacewherewehaveconstantlyreturnedtowrestlewithourancestralattitudesaboutworkandplay,equalityandwealth,Godandmammon,heroesandvillains,nationalpurposeandeconomicwell-being.BeginningintheRevolutionaryera,EveryManaSpeculatorrevealstheextraordinarypowerofWallStreetanditsimpactonourdemocracy;themoraldilemmaposedforasocietycommittedtotheworkethicyetluredbythepromiseofinstantwealth;andthechronictensionbetweenournativeegalitarianismandtheforcesofsocialhierarchyunleashedbytheStreet.Indoingso,itspanstheages,fromCaptainKidd'ssojournontheStreetthroughtheCivilWarandGreatDepressiontothepresentday,whenpowerbrokersstalkthecanyonsoflowerManhattanspeculatingonthefateofwholenations.InEveryManaSpeculator,SteveFraserbringsthisepichistorytolifewithcolorfultalesofconfidencemenandaristocrats,Napoleonicfinanciersandrecklessadventurers,masterbuildersandroguishdestroyers,mentothemanorbornandmenfromnowhere.Meticulouslyresearchedandmasterfullywritten,thisisagripping,powerfulchroniclethatcastsnewlightonthemetamorphosisofournation'smostcherishedvalues.