After The Music Stopped: The Financial Crisis, The Response, And The Work Ahead (2013) - Plot & Excerpts
I've read (or listened to) many books on the financial crisis and this is one of the best. I have quite deliberately not read the memoirs of Geithner and Bernanke, however. Not only does Blinder (former vice chair of the Fed, among other prestigious positions) cover the crisis in broad strokes, but he also covers at some length policy prescriptions to head off or lessen the impacts of the next crisis (and there will certainly be another). I gained a better understanding of the various instruments that the Fed has used and a better understanding of the Dodd-Frank bill, which is bitterly opposed by those who do not wish to be closely regulated. Blinder writes in an easy-to-read (or listen to) style and explains complex problems in a clear way. Though an self-described Democrat, he does not spare his criticism of both the Bush and Obama administrations. Definitely recommended for those who wonder what happened, what the response to the crisis was and a way forward from this disaster. Blinder's complete diagnosis of the symptoms of the 2008 financial crisis makes me wonder two things: First, what's the value in trillions of dollar for ethical banking? (I'd like to ask Paulson that question). Second, how to do due diligence when choosing financial firms to place my significantly less than trillions of dollars to work.I've watched all the Frontline investigative reports on the crisis. Now, Blinder's book has made this complex subject that went over my head like a jet digestible as if I'm in the control tower, with an expert explaining the flight second by second. Surely, his goal is to get us to watch the financial system much closer from here on, demand accountability of Wall Street to Main Street, and make it clear the consequences of bankers, businesses, and any other schemers gaming the system is failing all by themselves.
What do You think about After The Music Stopped: The Financial Crisis, The Response, And The Work Ahead (2013)?
A little dry, but overall a good summary of the events
—grubbymitts
Really interesting, but lost me several times.
—Manniejoh
