Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the Financial System—and Themselves
Where to buy Too Huge to Fail: The Inside Tale of How Wall Street and Washington Fought to Save the Financial System—and Themselves books online?
- ISBN13: 9780670021253
- Condition: NEW
- Notes: Brand New from Publisher. No Remainder Mark.
Product Description
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 right behind-the-scenes, moment-by-moment account of how the greatest financial crisis since the Fantastic Depression developed into a global tsunami. From inside the confront office at Lehman Brothers to secret meetings in South Korea, and the corridors of Washington, Too Huge to Fail is the definitive tale 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 Set aside 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 Huge to Fail re-makes all the drama and turmoil, revealing never told details and elucidating how decisions made on Wall Street over the past decade sowed the seeds of the debacle. This right tale is not just a look at banks that were “too huge to fail,” it is a real-life thriller with a cast of bold-faced names who themselves thought they were too huge to fail.
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I too was ready to buy Andrew Ross Sorkin’s book. But, I will not pay Amazon, Viking, or Sorkin a premium fee for an ebook.
Please reconsider the pricing for this book. The Kindle community is watching and is not amused.
Reader’s Rating: 1 / 5
The Kindle version is far too expensive–how can you justify it costing MORE to get an electronic version of a book?
Reader’s Rating: 1 / 5
A disturbing trend, confirmed again with Sorkin’s book, which is priced as an ebook more expensively than the hardcover. This is insanity. Not why I bought a Kindle, and with
Barnes and Noble, among others, entering the fray, Amazon needs to get a stiff dose of reality.
And for persons who say that this is not a significant review, I fervently disagree. If fee prevents people from reading it, it’s very appropriate to comment on it. Obviously, we reflect that WHATEVER Sorkin has to say, it isn’t worth the fee. That’s an vital message.
Reader’s Rating: 1 / 5
I ordered this book back in mid-October. I have yet to receive it or receive an explanation.
Robert Woodruff
Reader’s Rating: 1 / 5
This is one of the worst books ever written, despite being well-written. The NY Times is a bastion of liberalism and would rather see the falsehoods they judge in propagated through eternity than to really get down to the nitty-stark truth. The real causes of the sub-prime mortgage debacle that was the root cause of all the messes that came later is never seriously discussed.
Because the problems that made the mess (“mess” is a technical management term within the Kepner-Tregoe System to clarify just such a debacle) are not addressed, it comes off sounding like some sort of nifty disaster tale and putting the blame on, at various times: 1. the free market 2. not enough regulation of the market 3. the Bush administration 4. Conservatives in all-purpose 5. Generalized greed and terrible choice building. Only item #5 has some credence, the rest is blatantly fake since it was interference with the free market by liberals that made this monstrous problem . . . .
The United States had a 62-65% home ownership rate, the envy of the world for over 50 years. Liberals thought “everybody deserves to own their own home” lacking really thinking what that means. To reflect that way lacking thinking deeper is to factually attack the American Dream. One of the key ways for individuals to get wealthy in our society is by ownership of rental property, to become a landlord. Another is by securing the benefits of privileged education; another is by owning your own business; investing wisely; etc. etc. Deciding that everyone deserves to own their own home regardless of their ability to pay their mortgage (aka “social engineering”)was at the root of the mess. The CRA and the ‘98 Clinton mortgage-guarantee act that followed were thinly-disguised attacks on the landlord class which not coincidentally consists mostly of conservatives and many more Republicans than Democrats). It was also a terrible attack on the banks and financial systems. Forcing lenders to abandon years of successful practice to grant loans they know are terrible is a recipe for disaster . . . .
The original Jimmy Carter’s CRA (community reinvestment act) was thankfully poorly crafted. Yes, it did help drive interest excise up to 19% by late 1980, but the nation survived it, because most lending institutions were able to snub it. In the mid-90’s but, Barak Obama and additional ACORN lawyers of the ilk, took up a new tactic, snowing banks and additional home lending institutions beneath a blizzard of red tape and using protests to give banks terrible PR. The predictable result was the bank caving in, agreeing to make a certain number of terrible loans to ACORN nominated buyers every year and most importantly, building a contribution to ACORN itself. The banks caved just to get them out of their offices and from in front of their buildings so that they could conduct some semblance of normal business.
Clinton’s ‘98 mortgage-guarantee law place the whole process on steroids and mandated with teeth, the terrible loans that were merely extorted previously. As early as late November, 2003, James Stack of [...] was tracking a “housing industry bubble” and warning of the coming collapse of the markets based upon the sub-prime loan crisis. By January, 2005, Bush and the Republicans saw the danger and tried to stem the tide by repealing the most objectionable and treacherous aspects of the two mortgage-guarantee laws. The Democrats defeated them handily. In July, 2007, a very weak bi-partisan bill addressed the problem but it was too small, way too late and the fact is that the twin evil mortgage-guarantee laws are still on the books, mostly intact waiting to take us down again.
If the history is told correctly, Barak Obama and Bill Clinton each in their own way were nearly as guilty as Barney Frank and the most liberal of the Democrats in making this mess. So when Obama and Frank say, “I don’t want to hear from the people who made the mess . . .” or “The markets went poof AGAIN and the congress had to clean up the mess AGAIN” persons are blatant lies covering up their own culpability.
It took me a few words to clarify it. In a book from the mighty NY Times I would have expected them to dedicate a page and a half to three pages to get down to the real truth. That’s why I call it “NY Times: all the liberal lies unfit to print” . . . .
Reader’s Rating: 1 / 5