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Too Big to Fail: Inside the Battle to Save Wall Street
 
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Too Big to Fail: Inside the Battle to Save Wall Street (Paperback)

by Andrew Ross Sorkin (Author)
5.0 out of 5 stars  See all reviews (3 customer reviews)
RRP: £14.99
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Product details

  • Paperback: 640 pages
  • Publisher: Allen Lane (29 Oct 2009)
  • ISBN-10: 1846142385
  • ISBN-13: 978-1846142383
  • Product Dimensions: 23.2 x 14.8 x 4 cm
  • Average Customer Review: 5.0 out of 5 stars  See all reviews (3 customer reviews)
  • Amazon.co.uk Sales Rank: 241 in Books (See Bestsellers in Books)

    Popular in these categories:

    #1 in  Books > Business, Finance & Law > Economics > Economic Conditions
    #1 in  Books > Study Books > Professional > Business & Management > Economics

Product Description

Review

Too good to put down . . . It is the story of the actors in the most extraordinary financial spectacle in 80 years, and it is told brilliantly . . . It is hard to imagine them being this riveting (Economist )

Sorkin can write. His storytelling makes Liar's Poker look like a children's book (SNL Financial )

Sorkin has succeeded in writing the book of the crisis, with amazing levels of detail and access (Reuters )

Andrew Ross Sorkin has written a fascinating, scene-by-scene saga of the eyeless trying to march the clueless through Great Depression II (Tom Wolfe )

Andrew Ross Sorkin pens what may be the definitive history of the banking crisis (The Atlantic Monthly )


Product Description

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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Average Customer Review
5.0 out of 5 stars (3 customer reviews)
 
 
 
 
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3 of 3 people found the following review helpful:
5.0 out of 5 stars A remarkable book, 12 Nov 2009
By R. Foster "Roger Foster" (Scarborough, North Yorks) - See all my reviews
(REAL NAME)   
I bought this book after watching the author in an hour-long interview on Charlie Rose - on Bloomberg.

I have never read a book of over five hundred pages so quickly. It is easy to understand, with clear explanations of who was who in this sensational story. It seemed to me to be carefully researched and have authority, but it was above all readable.

If you would like to try to understand what happened to capitalism last year, this will help.
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4 of 5 people found the following review helpful:
5.0 out of 5 stars The 2008 financial crisis:The inside story, 11 Nov 2009
By Serghiou Const (Nicosia, Cyprus) - See all my reviews
(REAL NAME)   
This is the first and gripping inside story of the unfolding drama of the 2008 financial crisis, the worst since the great depression, which metastasized like a mailignant cancer to envelope the whole world.

The author, Andrew Ross Sorkin, a business writer at the New York Times, has conducted a meticulous research drawing on 200 of those participated in the events it covers. The book is as detailed as spiced with many colourful anectodes.

The book is the definitive story of the most powerful men in finance and politics grappling with success and failure, ego, and, ultimately, the fate of the world's economy but also elucidating how decisions made in the Wall Street over the last decade sowed the seeds of financial catastrophe.

The book reconstructs vividly the events surrounding the seizure of Fannie Mae and Freddie Mac, Lehman's Brothers collapse, the rescue of the American International Goup (AIG) and the shoring of big banks' capital with Public funds.

The book describes vividly the confusion, reversal and arbitrariness of policy decisions. Regulators would back a merger in one instance only to reverse it in the next for reasons that confused bankers. The $700 billion of the Troubled Asset Relief was a monument of arbitrariness and guesswork. The improvisations evident across Wall Street was similary notorious.

The author casts protagonists in different light. Hank Paulson, the then Treasury Secretary, acted decisively but not always wisely. Tim Geithner then President of the Federal Reserve of New York was tough minded while Ben Bernanke, Chairman of the Federal Reserve was cool headed and professorial. Under unfavourable light comes Christopher Cox, then the wavering head of the Securities and Exchange Commission.

The darkest light falls on Lehman's boss Dick Fuld combining hubris and ineptitude;he sacked or sidelined those who gave warning about the staggering debt levels and dangerous exposure to commercial property while he scuppered a life-saving deal with the South Koreans.

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5.0 out of 5 stars This book is Too Good to Fail, 21 Nov 2009
This is a fabulous financial book written in a style which means you almost can't put it down. The insights it delivers on the financial crisis of 2008/09 have not been covered in so much depth before and the journalistic style means that it is entertaining as well as informing. Highly recommended and a first choice if you want to learn about what really happened on Wall Street.
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