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Stress Test is the story of Tim Geithnerâ??s education in financial crises. As president of the Federal Reserve Bank of New York and then as President Barack Obamaâ??s secretary of the Treasury, Timothy F. Geithner helped the United States navigate the worst financial crisis since the Great Depression, from boom to bust to rescue to recovery. In a candid, riveting, and historically illuminating memoir, he takes readers behind the scenes of the crisis, explaining the hard choices and politically unpalatable decisions he made to repair a broken financial system and prevent the collapse of the Main Street economy. This is the inside story of how a small group of policy makersâ??in a thick fog of uncertainty, with unimaginably high stakesâ??helped avoid a second depression but lost the American people doing it. Stress Test is also a valuable guide to how governments can better manage financial crises, because this one wonâ??t be the last.
Stress Test reveals a side of Secretary Geithner the public has never seen, starting with his childhood as an American abroad. He recounts his early days as a young Treasury official helping to fight the international financial crises of the 1990s, then describes what he saw, what he did, and what he missed at the New York Fed before the Wall Street boom went bust. He takes readers inside the room as the crisis began, intensified, and burned out of control, discussing the most controversial episodes of his tenures at the New York Fed and the Treasury, including the rescue of Bear Stearns; the harrowing weekend when Lehman Brothers failed; the searing crucible of the AIG rescue as well as the furor over the firmâ??s lavish bonuses; the battles inside the Obama administration over his widely criticized but ultimately successful plan to end the crisis; and the bracing fight for the most sweeping financial reforms in more than seventy years. Secretary Geithner also describes the aftershocks of the crisis, including the administrationâ??s efforts to address high unemployment, a series of brutal political battles over deficits and debt, and the drama over Europeâ??s repeated flirtations with the economic abyss.
Secretary Geithner is not a politician, but he has things to say about politicsâ??the silliness, the nastiness, the toll it took on his family. But in the end, Stress Test is a hopeful story about public service. In this revealing memoir, Tim Geithner explains how America withstood the ultimate stress test of its political… (meer)
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 Deals with issues far bigger than anything on the Man Booker long list. -- Anne Ashworth The Times 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. -- Doris Kearns Goodwin This is a lucid, fascinating, and extremely important book ... 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 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
Informatie afkomstig uit de Engelse Algemene Kennis.Bewerk om naar jouw taal over te brengen.
For the intrepid public servants at the Treasury and the Federal Reserve who worked with great skill and devotion to help guide their country through the crisis
Eerste woorden
Informatie afkomstig uit de Engelse Algemene Kennis.Bewerk om naar jouw taal over te brengen.
(Introduction) On the morning of January 27, 2009, my first full day as secretary of the Treasury, I met with President Barack Obama in the Oval Office.
I had an extraordinary childhood, but I was an ordinary kid.
Citaten
Laatste woorden
Informatie afkomstig uit de Engelse Algemene Kennis.Bewerk om naar jouw taal over te brengen.
I will always be grateful to them for their dedication and their friendship.
Stress Test is the story of Tim Geithnerâ??s education in financial crises. As president of the Federal Reserve Bank of New York and then as President Barack Obamaâ??s secretary of the Treasury, Timothy F. Geithner helped the United States navigate the worst financial crisis since the Great Depression, from boom to bust to rescue to recovery. In a candid, riveting, and historically illuminating memoir, he takes readers behind the scenes of the crisis, explaining the hard choices and politically unpalatable decisions he made to repair a broken financial system and prevent the collapse of the Main Street economy. This is the inside story of how a small group of policy makersâ??in a thick fog of uncertainty, with unimaginably high stakesâ??helped avoid a second depression but lost the American people doing it. Stress Test is also a valuable guide to how governments can better manage financial crises, because this one wonâ??t be the last.
Stress Test reveals a side of Secretary Geithner the public has never seen, starting with his childhood as an American abroad. He recounts his early days as a young Treasury official helping to fight the international financial crises of the 1990s, then describes what he saw, what he did, and what he missed at the New York Fed before the Wall Street boom went bust. He takes readers inside the room as the crisis began, intensified, and burned out of control, discussing the most controversial episodes of his tenures at the New York Fed and the Treasury, including the rescue of Bear Stearns; the harrowing weekend when Lehman Brothers failed; the searing crucible of the AIG rescue as well as the furor over the firmâ??s lavish bonuses; the battles inside the Obama administration over his widely criticized but ultimately successful plan to end the crisis; and the bracing fight for the most sweeping financial reforms in more than seventy years. Secretary Geithner also describes the aftershocks of the crisis, including the administrationâ??s efforts to address high unemployment, a series of brutal political battles over deficits and debt, and the drama over Europeâ??s repeated flirtations with the economic abyss.
Secretary Geithner is not a politician, but he has things to say about politicsâ??the silliness, the nastiness, the toll it took on his family. But in the end, Stress Test is a hopeful story about public service. In this revealing memoir, Tim Geithner explains how America withstood the ultimate stress test of its political
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