Lords of Finance: The Bankers Who Broke the World by Liaquat Ahamed, edited by Ann Godoff, President and Publisher of The Penguin Press, has won the Pulitzer Prize “for a distinguished and appropriately documented book on the history of the United States.” The 94th annual Pulitzer Prizes in Journalism, Letters, Drama and Music were announced earlier today by Columbia University in New York. The Pulitzer Board praised Lords of Finance as “a compelling account of how four powerful bankers played crucial roles in triggering the Great Depression and ultimately transforming the United States into the world’s financial leader.” Each Pulitzer Prize winner is awarded $10,000.
Lords of Finance was a New York Times bestseller in hardcover and paperback, published by The Penguin Press in hardcover in January 2009 and by Penguin Books in paperback in December 2009. Ahamed, a professional investment manager for 25 years, offers a bold, insightful analysis of the world economic collapse of the late 1920s. He reveals that it was, in fact, the decisions taken by a small number of central bankers that were the primary cause of the economic meltdown, the effects of which set the stage for WWII and reverberated for decades to follow.
Other recent Penguin Group (USA) Pulitzer Prize winners include The Brief Wondrous Life of Oscar Wao by Junot Díaz (Riverhead Books, 2008) and March by Geraldine Brooks (Viking/Penguin, 2006) – both in the Fiction category.