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Stress Test: Reflections on Financial Crises Kindle Edition
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|Length: 586 pages||Word Wise: Enabled||Enhanced Typesetting: Enabled|
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“An intimate take on the financial crisis… gripping… conveys in visceral terms just how precarious things were during the crisis, just how frightened many first responders were, and just what an achievement it was to avert a major depression… [Geithner] demonstrates that he can discuss economics in an accessible fashion, making the situation the country faced in 2008 and 2009 tactile, comprehensible—and harrowing—to the lay reader. Along the way, he also gives us a telling portrait of himself.” –New York Times
“A how-to manual for anyone faced with a financial crisis… Mr Geithner was known for his brutal candor, and as an author, he does not disappoint.” —The Economist
“A fascinating memoir about life in the maelstrom of the financial crisis… Earlier books have described much of what happened that September, but Geithner was present for all the frantic meetings, the thousands of phone calls — and in the case of Lehman, the failure to find a buyer that could keep it alive. New problems cropped up almost weekly, if not daily. He explains each in easy-to-understand language and what the issues were that shaped the responses… There could be another crisis someday, of course, but what Geithner and his colleagues did has made one far less likely.” –USA Today
“Sharply worded and candid memoir.” —Financial Times
“Geithner does an admirable job of explaining the origins and complexities of the crisis for the average person. But there’s enough detail and retrospective lessons-learned to make it valuable for students of financial history….fast-paced and colorful….Stress Test goes beyond other crisis books.” –Los Angeles Times
“An unsparing insider’s account of the financial crisis from the former Secretary of the Treasury, unpacking the hard decisions and terrible trade-offs that devastated the economy but staved off a deep, lasting depression.” —TIME.com
“The central irony of Stress Test, the new memoir by former U.S. Treasury Secretary Tim Geithner, is that a guy who was accused of being a lousy communicator while in office has penned a book that is such a good read…I’ve now read four or five of these first drafts of the history of the Great Recession, and I believe Stress Test represents the biggest contribution of the bunch.” —Bill Gates
“Sensational . . . Tim’s book will forever be the definitive work on what causes financial panics and what must be done to stem them when they occur.” —Warren Buffett
“Very few important subjects in American history have been the subject of as much disinformation and deliberate distortion as the events surrounding the financial crisis that broke in 2008. Tim Geithner’s candid, clear-headed, and refreshingly self-effacing account of his role in formulating the federal government’s response is a very welcome antidote. Geithner’s book is a triple threat: it is first-rate economic history, insightful political science, and, most important, a cogent exposition of the importance of adhering to the policies adopted in the aftermath of the crisis if we are to succeed in diminishing the likelihood of any recurrence.” —Barney Frank
“Stress Test is an absolutely compelling account of the financial crisis, written in a clear, graceful style with striking honesty at every step along the way. Timothy Geithner brings a complex story to life with telling anecdotes and personal reflections.” —Doris Kearns Goodwin
“This is a lucid, fascinating, and extremely important book. Every American should read it. Geithner does something unusual: he engages in substance. With both insight and humility, plus a good dose of wry humor, he explains what really happened during the financial crisis. No matter your political persuasion, you will find this book educational, enlightening, and interesting.” —Walter Isaacson
“The country owes Tim Geithner great appreciation for his role in overcoming the financial crisis of 2008. He has now indebted it further with writing a thoughtful, very readable and informative account of the conduct of policy at the edge of disaster.” —Henry A. Kissinger
About the Author
- File size : 8370 KB
- Publication date : May 12, 2014
- Publisher : Crown; 1st edition (May 12, 2014)
- Word Wise : Enabled
- Print length : 586 pages
- Language: : English
- ASIN : B00IN73B9E
- Enhanced typesetting : Enabled
- Text-to-Speech : Enabled
- X-Ray : Enabled
- Lending : Not Enabled
- Best Sellers Rank: #188,058 in Kindle Store (See Top 100 in Kindle Store)
- Customer Reviews:
Top reviews from the United States
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The book gives a thorough analysis of the origin and subsequent impact of the recession. He specifically describes the issues associated with many of the major institutions involved in this crises, such as Fannie Mae, Bear Sterns, Lehman Brothers, Bank of America, AIG, and others. The latter half of the book focuses on the financial reform efforts that followed the crisis. It describes how partisan behavior by both the conservative and liberal wings of Congress actually hindered efforts at financial reform. Mr. Geithner received a lot of criticism over his handling of this crisis. Treasury’s programs were referred to as taxpayer bailouts for big banks. That said, had it not been for the government’s much criticized rescue packages, the country would likely have slid into a 2nd Great Depression.
Considering that financial reform could be an extremely boring topic, this book reads like a novel. It is well written and moves quickly despite being a lengthy 500 pages. All in all, it was an eye opening look at the 2008 recession.
This book should not be taken as "stand-alone" but read in the context of all the other ones out there about the crisis itself. It helps one to form their opinions in a clear and more fair way in my opinion.
Finally, this book also help show that the work of the Treasury, Federal Reserve, and other institutions that prevented the crisis relied on countless individuals who never get recognized for their hard work and countless hours helping make this country better. My admiration and gratitude only got bigger after reading this account.