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Stress Test - Reflections on Financial Crises (Paperback)
Loot Price: R462
Discovery Miles 4 620
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Stress Test - Reflections on Financial Crises (Paperback)
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List price R506
Loot Price R462
Discovery Miles 4 620
You Save R44 (9%)
Expected to ship within 9 - 15 working days
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From the former Treasury Secretary, the definitive account of the
unprecedented effort to save the U.S. economy from collapse in the
wake of the worst global financial crisis since the Great
Depression On 26 January, 2009, during the depths of the financial
crisis and having just completed five years as President of the
Federal Reserve Bank of New York, Timothy F. Geithner was sworn in
by President Barack Obama as the seventy-fifth Secretary of the
Treasury of the United States. Now, in a strikingly candid,
riveting, and historically illuminating memoir, Geithner takes
readers behind the scenes during the darkest moments of the crisis.
Swift, decisive, and creative action was required to avert a second
Great Depression, but policy makers faced a fog of uncertainty,
with no good options and the risk of catastrophic outcomes. Stress
Test: Reflections on Financial Crises takes us inside the room,
explaining in accessible and forthright terms the hard choices and
politically unpalatable decisions that Geithner and others in the
Obama administration made during the crisis and recovery. He
discusses the most controversial moments of his tenures at the
Federal Reserve Bank of New York and at the Treasury, including the
harrowing weekend Lehman Brothers went bankrupt; the searing
crucible of the AIG bonuses controversy; the development of his
widely criticized but ultimately successful plan in early 2009 to
end the crisis; the bracing fight for the most sweeping financial
reforms in seventy years; and the lingering aftershocks of the
crisis, including high unemployment, the fiscal battles, and
Europe's repeated flirtations with the economic abyss. Geithner
also shares his personal and professional recollections of key
players such as President Obama, Ben Bernanke, Hank Paulson, and
Larry Summers, among others, and examines the tensions between
politics and policy that have come to dominate discussions of the
U.S. economy. An insider's account of how the Obama administration
saved the economy but lost the American people, Stress Test reveals
a side of Timothy Geithner that only few have seen.
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