Too big to fail summary
Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the Financial System from Crisis — and Themselves by Andrew Ross SorkinAndrew 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, 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 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 Reserve 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 Big to Fail re-creates all the drama and turmoil, revealing neverdisclosed 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 with a cast of bold-faced names who themselves thought they were too big to fail.
Too Big to Fail Summary: Andrew Ross Sorkin
We've put together our favorite lines from the movie in approximate chronological order to give you a fast play-by-play of the film and its tale of the financial crisis. He goes on to say: "Paulson is posturing. He'll write a check just like he did for Jamie Dimon on the Bear deal. He has to; he can't lose another major bank in an election year. Besides, the guy made like a half a billion bucks at Goldman Sachs.
Andrew Ross Sorkin. The ever-growing pile of books about the Great Recession holds two kinds of tomes: those that pontificate about what went wrong and what should change, and those that detail the minute-by-minute action in the boardrooms of Wall Street and Washington. This book is the second kind. New York Times reporter Andrew Ross Sorkin, who gained access to many high-level financial players, provides an ambitious, remarkably detailed account of the collapse and bailouts of He founded DealBook, an online daily financial report. In September , Wall Street and the U.
Sign in. A close look behind the scenes, between late March and mid-October, we follow Richard Fuld's benighted attempt to save Lehman Brothers; conversations among Hank Paulson the Secretary of the Treasury , Ben Bernanke chair of the Federal Reserve , and Tim Geithner president of the New York Fed as they seek a private solution for Lehman's; and, back-channel negotiations among Paulson, Warren Buffet, investment bankers, a British regulator, and members of Congress as almost all work to save the U. By the end, with the no-strings bailout arranged, modest confidence restored on Wall Street, and a meltdown averted, Paulson wonders if banks will lend. It looks like we don't have a Synopsis for this title yet. Be the first to contribute!
Detailed analysis of how Paulson, Geithner, Dimon, and Fuld steered through the fall of Books on the Great Recession are an ever-growing pile. This pile holds two types of works. First, which preach what went wrong and what must change. Second, which describe minute-by-minute scenes in the boardrooms of Washington and Wall-Street. This classic falls in the second type.