| Book Review | The Journal of American History, 91.4

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| Book Review | The Journal of American History, 91.4 | The History Cooperative

Book Review

Street of Dreams—Boulevard of Broken Hearts: Wall Street's First Century. By Howard M. Wachtel. (Sterling: Pluto, 2003. xvi, 239 pp. $25.00, ISBN 0-7453-1925-4.)

The theme running throughout Howard M. Wachtel's Street of Dreams is the recurring tensions among three streets: Wall Street (high finance), Pennsylvania Avenue (government), and Main Street (public). In good times Wall Street is esteemed as a place of financial wisdom and wizardry working for the benefit of Main Street, despite the burdens placed on it by a meddlesome Pennsylvania Avenue. When times turn bad, however, Wall Street is criticized for its avarice and its seduction of Main Street. Burst bubbles produce investigations and political posturing but not much true reform, as Wall Street convinces Pennsylvania Avenue that a little judicious self-regulation is more effective than a lot of politically motivated reform.

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