Stress Test

Stress Test

Reflections on Financial Crises

Book - 2014
Average Rating:
6
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From the former Treasury Secretary, the definitive account of the unprecedented effort to save the U.S. economy from collapse in the wake of the worst global financial crisis since the Great Depression.
Publisher: New York : Crown Publishers, ©2014
Edition: First edition
ISBN: 9780804138598
Branch Call Number: 338.542 GEI 2014
Characteristics: 580 pages, 16 unnumbered pages of plates : illustrations ; 25 cm

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r
ricardohdz
Aug 20, 2017

In this book, Geithner offers superficial insights of the causes and implications of the financial crisis born in 2007. Without financial lingo, he exposes the rational behind many of the decisions he and his team made during those days. Rather than a complete study and profound research, the former US Secretary of Treasury offers the reader a day-to-day description of what is and how does it feel to command one of the biggest economies in the world during a period of economic weakness.

This book is a required lecture to understand the role of US government and public institutions during that time and to realize that these institutions have (or had) limited or no legal authority at all to restrict risk on financial firms.

o
OMatikainen
Apr 05, 2017

I found this book a good explanation of what happened in the 2008 - 2009 global financial crisis. It is surprising to find out that the cure for a financial crisis is not what is popularly expected, and I thought Tim provided a good explanation about why 'overwhelming force' is required. I will likely now remember the quote attributed to St. Augustine: "Lord give me chastity, but not quite yet"!

j
JoseRaez
Feb 16, 2016

An honest account by Tim Geithner on how he and others averted another depression in 2008 and 2009, and measures they took to save the U.S. economy, and the world's economy, during that time. I also found interesting how the so-called financial reform, after the financial crisis, took place and the politics that influenced its final form. I certainly enjoyed Tim's fouled mouth. ;)

f
fdb045
Jun 29, 2015

An excellent expose of Geithner and how he/the US government attacked the global credit crisis. IMO - If one were going to read just one book on the subject, this would be it due to his explanation of what they did but, more importantly, why.

b
BloomFree
Dec 18, 2014

Okay I admit I didn't read word by word I skimmed but I did find it very interesting and educational. Honestly Timothy Geithner strikes me as an honest unpretentious man.

He is quite at home in the rough-tough political world. He chooses his wording carefully and is cautious when elaborating on those who he didn't like mostly agreeing to disagree. I think most people will enjoy viewing the pictures and getting a greater sense of what is involved in a high responsibility position such as he had.

s
StarGladiator
Apr 23, 2014

Having read several advanced drafts of this drivel, allow me to correct the author's background: as president of the Federal Reserve Bank of NY when $8.7 billion in Iraqi oil funds went missing [supposed to be kept on account at the FRBNY; was managed by a managing director at JPMorgan Chase and best buddy, former college roomie of Timothy Geithner, one Daniel Zelikow], as a former member of the Group of 30, established by the Rockefeller Foundation to speak on behalf of the central bankers and speculators, as someone who would go on for his big payday at Warburg Pincus, the oldest private equity firm in America, and as deputy chair of the Millennium Challenge Corporation which appears to have helped the financing of the overthrow of the democratically elected president of Honduras [Zelaya] just because he wanted to raise their national minimum wage by a few pennies, we should view Geithner as one of the major players in the global economic meltdown, not one of the problem solvers!

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