The Inside Story of How Wall Street and Washington Fought to Save the Financial System - and Themselves
A real-life thriller about the most tumultuous period in America's financial history by an acclaimed New York Times reporter. Andrew Ross Sorkin delivers the first true, behind-the-scenes, moment-by-moment account of how the greatest financial crisis since the Great Depression developed into a global tsunami.
From inside the corner office at Lehman Brothers to secret meetings in South Korea and the corridors of Washington, Too Big to Fail is the definitive story of the most powerful men and women in finance and politics grappling with success and failure, ego and greed, and, ultimately, the fate of the world's economy.
"We've got to get some foam down on the runway!" a sleepless Timothy Geithner, the then-president of the Federal Reserve of New York, would tell Henry M. Paulson, the Treasury secretary, about the catastrophic crash the world's financial system would experience. Through unprecedented access to the players involved, Too Big to Fail re-creates all the drama and turmoil, revealing neverdisclosed details and elucidating how decisions made on Wall Street over the past decade sowed the seeds of the debacle.
This true story is not just a look at banks that were "too big to fail"; it is a real-life thriller with a cast of bold-faced names who themselves thought they were too big to fail.
Worth reading as long as you have the time
Quite lenghty with details surrounding the lifes of the key players involved with the bailout. I'm not a business major so I was surprised that this book was able to keep my attention. I would recommend this book to those that are interested in the lifes of the people that were involved in the bailout- puts a more human perspective to such a tradedy.
A Gripping and Insightful Look at the Crisis
This could be one of the best books written about a pivitol moment in our nation's time. Sorkin has done his homework and the result is an entertaining but also in-depth look at the heroes and villans that took us to the brink of disaster and who still, for the most part, dominate the US economy
wow, this is an epic account of a remarkable period in history
It will forever be hard to fathom how a few bad investments in a relatively confined sector of the market could have triggered a global “run on the bank”, but that is precisely what happened in 2008. This book is a remarkable piece of investigative reporting that chronicles the bank CEO’s who were blindsided by the risks that their employees were taking and the civil servants (most of which were former bankers) who were desperately running ahead trying to anticipate where the fire would blow next.
It is easy to regard this period as a footnote in the history books, but that is only because of the tremendous hurried effort that went into avoiding a complete financial meltdown.
Sorkin’s access is either truly remarkable or he has weaved in a bit of historical fiction into the narrative. Either way, it makes for a fantastic read!