The City of London: Club No More, 1945-2000 v. 4 Book

The City of London. Vol IV: A Club No More is the fourth and final volume of David Kynaston's epic history of the square mile in the modern era. This lively and informative book takes the story from the post-war era, when the City was hemmed in by bombsites and austere Chancellors, through to very recent developments, such as the "Big-Bang" deregulation of 1986. This is as much a social history as a financial study, with interesting discussions of the changing class (it altered only gradually) and sexual (change was almost negligible) complexion of the City, and with fascinating details on the early computerisation of the big companies. As with earlier volumes Kynaston's style is that of an anecdotal storyteller. Colourful characters, dramatic boardroom struggles and heated exchanges between politicians and bankers dominate the pages. And memorable quotes too; the comparison of the Stock Exchange to an acqueduct for example: as one financier observed, "it argues no fault in the construction of the acqueduct that the water it conveys is often dirty". On this point Kynaston is, not surprisingly, neutral. As evidence of share-dealing, pensions and derivatives scandals mount up in the later chapters, and rogues like Robert Maxwell and Nick Leeson join the cast of thousands, the author proves reluctant to wag his finger at the accused. Only the City, it seems, and never any individual within it, was to blame. --Miles TaylorRead More