As president of the Federal Reserve Bank of New York and then as President Barack Obama’s secretary of the Treasury, Timothy F. Geithner helped the United States navigate the worst financial crisis since the Great Depression, from boom to bust to rescue to recovery. In a candid, riveting, and historically illuminating memoir, he takes readers behind the scenes of the crisis, explaining the hard choices and politically unpalatable decisions he made to repair a broken financial system and prevent the collapse of the Main Street economy. This is the inside story of how a small group of policy makers—in a thick fog of uncertainty, with unimaginably high stakes—helped avoid a second depression but lost the American people doing it. Stress Test is also a valuable guide to how governments can better manage financial crises, because this one won’t be the last.
Stress Test reveals a side of Secretary Geithner the public has never seen, starting with his childhood as an American abroad. He recounts his early days as a young Treasury official helping to fight the international financial crises of the 1990s, then describes what he saw, what he did, and what he missed at the New York Fed before the Wall Street boom went bust. He takes readers inside the room as the crisis began, intensified, and burned out of control, discussing the most controversial episodes of his tenures at the New York Fed and the Treasury, including the rescue of Bear Stearns; the harrowing weekend when Lehman Brothers failed; the searing crucible of the AIG rescue as well as the furor over the firm’s lavish bonuses; the battles inside the Obama administration over his widely criticized but ultimately successful plan to end the crisis; and the bracing fight for the most sweeping financial reforms in more than seventy years. Secretary Geithner also describes the aftershocks of the crisis, including the administration’s efforts to address high unemployment, a series of brutal political battles over deficits and debt, and the drama over Europe’s repeated flirtations with the economic abyss.
Secretary Geithner is not a politician, but he has things to say about politics—the silliness, the nastiness, the toll it took on his family. But in the end, Stress Test is a hopeful story about public service. In this revealing memoir, Tim Geithner explains how America withstood the ultimate stress test of its political and financial systems.
Timothy F. Geithner was the seventy-fifth secretary of the U.S. Department of the Treasury and previously served as president and chief executive officer of the Federal Reserve Bank of New York. He wrote this book as a distinguished fellow at the Council on Foreign Relations.
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如果单看大屏幕的影视作品,08年的美国次贷危机给人的印象大概只有“惨痛”二字可以形容。可是中国政府今年以来对房地产采取的强烈措施,口号中坚决遏制房价上使人不得不去想,中国的房产泡沫也濒临临界点了吗?那么,深刻了解美国次贷危机还是很有意义的。 想想3.2亿美国人中...
评分 评分本想只在豆瓣评论上写一些感想,没想到一写就是洋洋洒洒三千字。实在是好书,便还是以书评形式贴出,与志同道合者共享。 巴老形容这本书的词最好: Sensational! 从前对大衰退的理解多来源于草根作品,然而这个世界上恐怕也没有像盖特纳这样自始至终身临其境又酷毙得能直来直往...
评分 评分这本书非常丰富而详实,用美国年轻财政部长自己的亲身经历和所思所为,充分地描绘了美国金融危机的图景——大致上就像金融市场跑出两百只哥斯拉在闹市区横冲直撞之后,政府部门却只有创可贴和胶布用来修补损害的图景。 在普通人看来,美国政府无疑是很强大的,但是当面对金融...
the avalanche of confidence and the re-establishment of faith.
评分the best this year.
评分Geithner在政府部门工作25年参与扑灭多场金融危机的大火,希望他在新东家Warburg Pincus不再做消防队长。
评分平铺直叙的厚书太考验人的耐心(which i aparently don't have much
评分“This is the central paradox of financial crises: What feels just and fair is often the opposite of what’s required for a just and fair outcome. It’s why policymakers generally tend to make crises worse, and why the politics of crisis management are always untenable."比尔盖茨说读了这本书,起码人们知道在金融危机的时候,管理者做了什么努力。非常实在的回顾和反思,在遍布猪一样的队友、猪一样的错觉里。
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