The Moneychangers

This is my first Upton Sinclair book and I was both impressed and at the same time a little disappointed. I certainly appreciate The Moneychangers for its expose of how a few enormously wealthy, greedy and powerful men can bring down the entire economic system - and how prophetic that was regarding the terrible situation we're in today. On the other hand, I don't have a very high opinion of Sinclair as a writer after reading this book. The characters are all wooden and for the most part are really caricatures. The protagonist seems basically a wimp and is very uninteresting, until the last page when he seems to put on his cape and declares he's out to save the world. His obsession with the woman who doesn't return his love is also pretty annoying, at least the way Sinclair portrays it. And she, the woman, is very dated and not at all appealing. I do recommend reading The Moneychangers for the same reason I would recommend seeing the film "Inside Job" - I believe what Sinclair is reporting on is basically the truth, shocking to some, maybe less so to others, and of course, bloodcurdling, etc. - Mike

I find it chilling that the peril of institutions that could be both too big to fail and driven to ruin by disingenuous wreckers was known exactly 100 years prior to the bubble burst of 2008. The Moneychangers is eerie in its similarity to the economic snap that began the so called Great Recession. But it is not perfectly prophetic. Sinclair's target in 1908 was the trusts. In some ways these were the same robber barons as today, but the dynamic has notable differences. Sinclair's panic has a classically literary onus. There are virtuous actors. . But there are also real historical contrasts and comparisons for the perceptive reader to note. Presidents (Theodore) Roosevelt and (George W.) Bush would deal with reckless speculation differently. The media circus devoted to the crisis would strike stunningly similar tones. . Let the following excerpt speak for itself: . "It was very interesting to Montague to read these newspapers and see the picture of events which they presented to the public. They all told what they could not avoid telling - that is, the events which were public matters; but they never by any chance gave a hint of the reasons for the happenings - you would have supposed that all these upheavals in the banking world were so many thunderbolts which had fallen from the heavens above. And each day they gave more of their space to insisting that the previous day's misfortunes were the last - that by no chance could there be any more thunderbolts to fall." (293) . The protagonist in The Moneychangers, Allan Montague, is a bit like a grown up Nick Carraway, somewhat streetwise but still possessing of his genuine essence and wiser than the great men who tower overhead. Like Fitzgerald's protagonist, Montague is ultimately unable to protect the woman in his charge. Bloodshed ensues. The financial crisis at the center of the melodrama is, in fact, caused by avarice and lust. Much like the Trojan war, the resources of economic empires and the blood of a nation are gambled in retaliation to a woman's rejection of unwanted advances. . I am a fan of Sinclair's work, from The Jungle to the Lanny Budd saga. However, I am surprised The Moneychangers doesn't occupy a more prominent place in his catalog, or indeed the progressive political literary canon. Perhaps as our understanding of the Great Recession grows, The Moneychangers will rise to prominence. . If only it had been heeded before, not after, it rang uncomfortably prophetic...