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Geithner T. F., Stress Test. reflections on financial crises — 2014
The Los Angeles Times bestseller "Stress Test" is the story of Tim Geithner's training in financial crises. As President of the Federal Reserve Bank of New York and then Secretary of the Treasury under President Barack Obama, Timothy F. Geithner helped the United States through the worst financial crisis since the Great Depression, from boom to bust, from rescue to recovery. ... The stress test reveals a side of Secretary Geithner that the public has never seen since his childhood as an American abroad. He talks about his early days as a young Treasury official who helped fight the international financial crises of the 1990s, then describes what he saw, what he did and what he lacked at the New York Fed before the Wall Street boom went bankrupt.
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Geithner T. F., Stress Test. reflections on Financial Crises — 2014
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.
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