3 of 4 people found the following review helpful
A five star book if ever I read one,
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This review is from: Misunderstanding Financial Crises: Why We Don't See Them Coming (Hardcover)
Oh I absolutely cannot let this book sit on your virtual shelves without more stars as, for me, it is THE BEST book I have read with respect to financial crises. What Jamie said to Dick when they secretly met in John's apartment at the Four Seasons hotel is entertaining, but it will do squat to help ensure they or their successors don't have to do it all over again any time soon (like in my lifetime).
It got to the point with this book that I became embarrassed at the number of comments I was making in the Kindle margin.
"Whatever it takes" is not a new mantra invented by Fed Chairman Ben Bernanke to get the recently crisis ridden financial system back on it's feet -- it's age old.
And for what it's worth, I think Gary Gorton is spot on with respect to what he pin-points as the key transmission mechanisms through which the initial sparks of fire subsequently engulfed the entire system.