Global Financial Warriors: The Untold Story of International Finance in the Post-9/11 World [Hardcover]

John B. Taylor (Author)

Book Description

Publication Date: January 8, 2007

The story of post-9/11 international finance, told from an unmatched vantage point.

Sworn in as head of the U.S. Treasury Department's international finance division just three months prior to 9/11, John B. Taylor soon found himself at the center of the war on terror. Global Financial Warriors takes you inside the White House situation room, to meetings of the G7 finance ministers, and to cities around the world as Taylor assembles a coalition to freeze terrorist assets worldwide, plans the financial reconstruction of Afghanistan, oversees the development of a new currency in Iraq, and deals with the spread of financial crises. From reforming the IMF and the World Bank to negotiating international agreements to reduce Iraq's debt by 80 percent and cancel the debt of very poor countries, Taylor's unparalleled access offers the reader not only an insider's account of a pivotal time in international finance but also an invaluable primer on the policy development and operational strategies that helped Taylor and his team succeed. 16 pages of illustrations

Editorial Reviews

From Publishers Weekly

Exactly one month after the terrorist attacks of 9/11, President Bush declared that "the first shot in the war was when we started cutting off their money, because an al-Qaeda organization can't function without money." In this data-heavy memoir, former Treasury Under Secretary for International Affairs Taylor, currently an economics professor at Stanford, describes in exceptional detail that first salvo and the campaign it ignited: how the world economy was transformed in 9/11's aftermath and how his team became, quite literally, soldiers of fortune. Taylor brings readers face to face with a President making his hardest decisions and behind the scenes at many important G7 (later G8) meetings. Documenting every word and action, Taylor chronicles the financial reconstruction of both Afghanistan and Iraq-including the development of new currency, reformations at the IMF and the daunting work getting countries to forgive Iraqi debt-in too much detail, making this a longer than necessary read. Though the data and decisions he documents constitute irrefutably world-changing history, readers may find many of Taylor's section headings sufficiently informative ("Struggling to Move a Large, Disparate Group," "Getting the President's Approval for Stage One") to skip the thousand-plus words that follow.
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Review

A must read for anyone who would understand the complexities and the challenges of the global economy. -- David M. Kennedy

An exceedingly well-written, often gripping look at how politics, national security, and global finance overlap and intersect. -- Alan Greenspan

Anyone who wants to know how government can work when it's well handled should read Taylor's book. -- Chicago Sun Times

Taylor has written a valuable insider's account of financial diplomacy in the Bush administration. -- The Washington Post

With the major media serving almost nothing but round-the-clock pessimism, it's refreshing to read a success story for a change. -- TownHall.com

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Product Details

• Hardcover: 352 pages
• Publisher: W. W. Norton & Company; First Edition edition (January 8, 2007)
• Language: English
• ISBN-10: 0393064484
• ISBN-13: 978-0393064483
• Product Dimensions: 9.4 x 6.5 x 1.2 inches
• Shipping Weight: 1.4 pounds (View shipping rates and policies)
• Average Customer Review: 4.1 out of 5 stars  See all reviews (7 customer reviews)
• Amazon Best Sellers Rank: #586,412 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

3 of 3 people found the following review helpful:

5.0 out of 5 stars Highly informative insider's account of a diverse range of global financial events, December 21, 2007

By 

Jerry H. Tempelman "[e-mail]" (New York, NY) - See all my reviews
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This review is from: Global Financial Warriors: The Untold Story of International Finance in the Post-9/11 World (Hardcover)

In Global Financial Warriors, John B. Taylor recounts the stories of his tenure as Under Secretary of the Treasury for International Affairs during the first term of the George W. Bush presidency (2001-2005). He shows how foreign policy consists of not just two but three pillars: political, military, and financial.

Professor Taylor occupied his post at the Treasury Department during an eventful time in history. In the book, he details the role of Treasury in the war on terrorism (including the global freezing of funding from al Qaeda and related terrorist groups, attempts to secure Turkey's cooperation in allowing coalition forces to enter Iraq from the north, the rebuilding of financial systems in Afghanistan and Iraq after the change in regime in those two countries), as well as the financial crisis in Argentina in 2001, attempts at reform at the IMF and at the World Bank, and exchange-rate policy negotiations with Japan and China.

Throughout, Mr. Taylor, already well known in academic and public-policy circles as a highly distinguished monetary economist, also emerges as a capable manager (examples: establish clear missions and form specialized teams to achieve those missions; subordinates are most effective when you tell them what to do but not how to do it). Incidentally, reading between the lines, so does President Bush.

What the book is not is yet another sensational score-settling political memoir. Instead, it is a highly informative insider's account of a diverse range of global financial events. The book persuasively illustrates how in the implementation of foreign policy, diplomatic, military, and financial aspects are all interrelated.

4 of 6 people found the following review helpful:

4.0 out of 5 stars Surprisingly interesting, March 8, 2007

By 

RF (Southwest, USA) - See all my reviews

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This review is from: Global Financial Warriors: The Untold Story of International Finance in the Post-9/11 World (Hardcover)

I just finished this book. I'm surprised I finished it. When I started it, I didn't think it would hold my attention, but it did. Taylor accomplished many important tasks during his tenure, most of which barely got mentioned in the news. If you have an interest in international finance, from creating a new currency in Iraq to adjusting the exchange rate for the Chinese Yuan, you will probably enjoy this book. Taylor is obviously a professional, and good at what he does. The tone of the book was a little off-putting for me - our brilliant and excellent leader, President Bush, tasked me with very important jobs, and somewhat to my surprise I was very good at excuting his orders. In spite of that recurring theme, I recommend this book.

4.0 out of 5 stars Global financial warriors, August 31, 2009

By 

C. M. Wood (Cumming, GA USA) - See all my reviews
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This review is from: Global Financial Warriors: The Untold Story of International Finance in the Post-9/11 World (Paperback)

This book is packed with detailed information about how the US has worked with the IMF, the World Bank, and other countries to combat financial crises and stabilize the global economy. You need an advanced degree in economics to fully understand it, but I found it interesting and enlightening.