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Andrew Sorkin - Too Big To Fail
The New York Times is renowned around the world for its first class journalism, and that is reflected in Andrew Sorkin's gripping book, Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the Financial System - and Themselves
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
“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
Andrew Ross Sorkin is the award-winning chief mergers and acquisitions reporter for The New York Times, a columnist, and assistant editor of business and finance news. He is also the editor and founder of DealBook, an online daily financial report. He has won a Gerald Loeb Award, the highest honor in business journalism, and a Society of American Business Editors and Writers Award. In 2007, the World Economic Forum named him a Young Global Leader.
Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the Financial System---and Themselves
Publisher: Viking Adult
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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 never disclosed 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.
Average Rating
Reviews
Great book
Hell on earth
A good book
Don't read this book if: you are looking for background on commercial banks, investment banks, CDOs, credit default swaps, and other aspects contributing to what caused the problems.
Overall, a good book.
The Definitive Book of the Financial Crisis of 2008
Informative and gripping
Some of the chronology is out of sequence, especially in the first half of the book, and some of the technical terminology and mechanics of the financial system are not adequately explained for the layman. The interconnections between the various institutions was mind-boggling, but that seems to be just as much an indication of the overall problem as it is a shortcoming of the book.
The author's conclusions are thought-provoking and tie all the events together nicely. All in all a good read.
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