Too Big to Fail
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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, Russia and the corridors of Washington,
… More »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, Russia 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, 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 president of the Federal Reserve of New York would tell Henry M.Paulson, the Treasury Secretary about the catastrophic crash of the world's financial system would experience. Through unprecendented access to the players involved, "Too Big to Fail" recreates 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 about a cast of bold-faced names who themselves thought they were 'too big to fail'.
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Add a CommentThis is one of the most complete accounts of the 2008 US economic crisis. Sorkin as a newspaper columnist was there for it all and I am floored by the amount of access he was given. There are less than flattering quotes which I was surprised to see in print. I have read many books on this particular subject and this book is by far the best at covering the interaction between the cast of players. It is so good that I almost question the authenticity of some of the dialogue. If you want to read books on the crisis I would have to say read this one first. I would then look for another book that gets deeper into the detailed workings behind the crash.
An interesting read about some of the inside characters during the collapse of Lehman. I was a bankruptcy attorney at the time, and some of the work I did involved some of the same people involved in the story Sorkin weaves together. A good read with some very good insights.
Yes, yet another one about the economic crisis on my list. I just love this stuff. But I think this one is too flowery. It’s trying too hard to be eloquent.
Film release: Fall 2011 "The Book: Andrew Ross Sorkin's nonfiction epic about the financial crash of 2008 is perhaps the best book yet to explain the mortgage crisis and where all of our money really went. "The Film: A big HBO movie about our very own modern times? Yes, please. The cast is amazing: Cynthia Nixon, James Woods, Paul Giamatti, William Hurt, Matthew Modine, Tony Shalhoub and Billy Crudup (as Tim Geithner!). Plus, I think it is safe to say that some of us still don't completely understand the whole "stock market apocalypse" situation and could use a glossy Hollywood production to help clarify things. "See It With: The biggest Paul Krugman groupie you know." Rachel Syme, NPR Radio
New York Times reporter Andrew Ross Sorkin follows the dramatic day-to-day events leading up to the 2008 economic meltdown, providing scrupulous research on the players and the sliced and diced, interconnected banking mortgage missteps leading to the development of TARP. Sorkin concludes with an afterward on the efiicacy of TARP and questions whether Fannie Mae, Freddie Mac, and derivatives should have been included in banking reforms, since Fannie and Freddie cost taxpayers over $130 billion dollars as mortgages slipped underwater across the nation.
A fascinating, detailed look at the events leading the US government into bailouts and the TARP program. Emphasizes the role of the individuals involved, through extensive access to interviews, phone & e-mail logs, and diaries/journals. An easy read if you're into either finance or government.
lots of detail about who did what and when, amazing that the US survived the credit crisis, and that Paulson did not have a nervous breakdown