Too Big To Fail: The Inside Story Of How Wall Street And Washington Fought To Save The Financial System From Crisis — And Themselves (2009) - Plot & Excerpts
So this is what reading a book where you already know the ending is like. Going through the Lehman troubles, I thought that was going to be the end but of course it wasn't, because there was still a good portion of the book to go through. You sympathise with the people and yet you know that they are still a lot richer than most of the world, even after losing a large portion of their wealth. Reality check: Yes, this is non-fiction.How is a bailout (oops, sensitive word) or government assistance justified? When the entire economy is dependent on the financial industry and who we're really trying to save is the everyday man on the street. Why was AIG saved when Lehman was not? Because AIG is an insurance company, a place where everyday people like you and I pump our life savings into, to insure ourselves. It sounds like a messy affair, these risky investments and investment-linked insurance policies. What does one put their money into, these days??My thoughts at the end of the book: I finally finished this book! Though I may have to reread it because I am still so lost as to who did what and the different plots in the book. Note to self: If you should ever see a list of names categorised at the front of the book, be prepared to be confused by a gazillion characters. This is definitely not a "Start and Stop" book, if you know what I mean. Compounded by the fact that I'm not familiar with Wall Street and their major league players... it was an equation for disaster, i.e being lost in the plot, not in the book and definitely not in a good way. "The Federal Reserve also came under scrutiny for being too close to Wall Street, as members of Congress questioned whether the agency had acted appropriately in making some of its secret middle-of-the-night decisions and whether more disclosure was necessary". Livro fundamental para entender a crise financeira de 2008 e para confirmar que um Banco Central independente, como defendido na eleição brasileira de 2014 por alguns candidatos, é totalmente propício a tomar decisões baseadas no interesse do mercado financeiro.
What do You think about Too Big To Fail: The Inside Story Of How Wall Street And Washington Fought To Save The Financial System From Crisis — And Themselves (2009)?
Definitely worth checking out, I recommend the audio book version.
—jamie
Readable history of the 2007 financial crisys in US.
—Rejoyce
