Firefighting: The Financial Crisis and its Lessons

Description

2008 saw one of the worst financial crises in generations, the global implications of which are still being felt today. Ten years later Ben Bernanke, Timothy Geithner and Hank Paulson reflect on the causes of the crisis, why it was so damaging, and what it ultimately took to prevent a second Great Depression. All three had crucial roles in the government's response- Ben S. Bernanke as chairman of the Federal Reserve; Henry M. Paulson, Jr., as secretary of the Treasury under President George W. Bush; Timothy F. Geithner as president of the Federal Reserve Bank of New York during the Bush years and then Treasury secretary under President Barack Obama. A powerful, warts and all account told with unprecedented clarity; from the flawed human response to the necessity to learn from the past and help firefighters of the future protect economies from the ravages of financial crises. Firefighting is a vital account of a defining moment in modern history and an inspiring lesson on leadership through crisis.

Ben S. Bernanke, currently a Distinguished Senior Fellow at the Brookings Institution, was the chairman of the Federal Reserve from 2006 to 2014. He is the author of The Courage to Act. Timothy F. Geithner is currently President of Warburg Pincus and was the 75th Secretary of the Treasury for President Obama's first term. He is the author of Stress Test: Reflections on Financial Crises. Hank M. Paulson Jr. is the founder and chairman of the Paulson Institute, and served as the 74th Secretary of the Treasury under President Bush. He is the author of On the Brink and Dealing with China.

I'm glad I didn't have to do the job that these three 'fire chiefs' did. I learned much from this book I had not previously known. Its cautions for the future should be required reading for all policy makers. -- Warren Buffett