Financial markets evolved faster than regulation, in part because of regulatory capture. If one has read any two of these books one would know an asymptotic 100%. You can still see all customer reviews for the product. --Kirkus "All kinds of readers will find [Firefighting] a readable summary of the crisis, but its paramount value comes from the authors' explanations and defenses of their whatever-it-takes actions and assessment of current financial system risks." This little book should be part of your bookshelf, next to Galbraith "The Great Crash 1929". Everyday low prices and free delivery on eligible orders. This one, however, was written by three of the main players in the 2008 recession - Ben Bernanke, Chair of the Federal Reserve, Timothy Geithner, head of the Treasury, and Henry Paulson Jr. as Secretary Treasurer under George W. Bush. They liken themselves as firefighters. Don't fully credit my words, i am only 20 years old. In this memoir, three men who headed the US financial system give us an inside view of how they saved Wall St from collapse. Welcome back. We’d love your help. I've read most the books on the financial crises, including the 3 authors' memoirs, but I found this one to be the most clear, concise and informative. In what is a stunning turn of events, the three Firefighters from the crisis of 2008 have published a mea culpa where they succinctly connect their unfortunate actions to the triumph of populism and the election of Donald Trump a short eight years later. I thought it’s a good book to read and understand what had happened. Firefighting: The Financial Crisis and its Lessons Reviews. Disabling it will result in some disabled or missing features. The material gives a good overview of the 2008 financial crisis from the perspective of the government - it dives into the tools, methods, and strategies the Fed used to prevent another Great Depression. Book is 128 pages of words, the rest is excellent and relevant charts!! Charts at the end of the book are quite revealing and one can use those to assess weakness in the economy. Firefighting: The Financial Crisis and Its Lessons, by Ben Bernanke, Tim Geithner and Henry Paulson, Penguin, RRP$16 Profile, RRP£9.99, 240 pages Martin Sandbu is … From the three primary architects of the American policy response to the worst economic catastrophe since the Great Depression, a magnificent big-picture synthesis--from why it happened to where we are now. Praise For Firefighting: The Financial Crisis and Its Lessons… Longlisted for the Financial Times /McKinsey Business Book of the Year Award “If what these three men did during the financial crisis had not been done, the world would, in my view, have experienced a … Firefighting: The Financial Crisis and its Lessons. --Library Journal, starred review … But as i understand, Ben Bernanke always tells it like it is. Reviewed in the United States on April 25, 2019. This isn’t a book for those unfamiliar with the story and understanding of the financial crisis, nor does it talk about the whole economic recession. A bit “well they would say that wouldn’t they?” but really interesting, Bernanke, Geithner, and Paulson individually wrote their own memoirs on the Great Recession. Black and White language that my non economic brain can understand. The information presented is … Firefighting: The Financial Crisis and its Lessons by Ben S. Bernanke, Timothy F. Geithner, Henry M. Paulson Jr. has an overall rating of Positive based on 5 book reviews. From the three primary architects of the American policy response to the worst economic catastrophe since the Great Depression, a magnificent big-picture synthesis--from why it happened to where we are now. In 2008, Obama faced a similar crisis: The economy was in free fall, and the financial system was gripped by panic. ... firefighting connotes crisis but what it also entails is a noble endeavor; battling a calamity that is raging but can be contained by a special force skilled in the art of fire. I will forever be thankful to them and to the hundreds of staff what worked with them during the crisis. Finden Sie hilfreiche Kundenrezensionen und Rezensionsbewertungen für Firefighting: The Financial Crisis and Its Lessons auf Amazon.de. Congress (Dodd-Frank) took away the tools that the Fed, Treasury and FDIC used to fight the crisis. Perhaps so, but their prescription for the future is powers to do more of the same, rather than break up the big banks or let them fail. This collaboration by the three U.S. government officials who led the fight in the United States against the financial crisis of 2008 presents a mature and revealing assessment of the genesis and dynamics of the meltdown—and of the government’s ultimate success in halting it, although not before a painful recession had set in. Too bad politicians in charge won’t read and heed it. They then went on to laud their own policy measures (quantitative easing). Of the roughly 130 pages of text, nearly all are dedicated to what the three authors had done, and what was happening at the time, rather than why it had happened. by Penguin Books. This is despite the fact that these books were written about 8 years ago. There are no discussion topics on this book yet. This is a rather short (~130 pages) description of the financial crisis and its aftermath, and recommendations for reducing the damage of future crisises. Many people disagreed with the decisions the authors took and did not take between 2007 and 2009. Download for offline reading, highlight, bookmark or take notes while you read Firefighting: The Financial Crisis and Its Lessons. April 16th 2019 Terrified by how similar it is to the current situation... A Primer on How the 2008 Financial Crisis was Handled and Preparedness for Future Crises. One small criticism: the 'firefighting' metaphor is absurdly overused. Reason for one less star is mainly due to the lack of specific advice for investors (average citizen), although great lessons and advice for policymakers. Congress will be too slow to give back these tools in an emergency with a predictable and very negative result. Lesen Sie ehrliche und unvoreingenommene Rezensionen von unseren Nutzern. They made the best use of the tools on their table, determined to rescue their patient at whatever cost. A book more on what happened rather than why (with its implications for the future), Reviewed in the United States on April 19, 2019.

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