New York Times Bestseller Washington Post Bestseller Los Angeles Times Bestseller Stress Test is the story of Tim Geithneras education in financial crises. As president of the Federal Reserve Bank of NewYork and then as President Barack Obamaas secretary of the Treasury, Timothy F. Geithnerhelped the United States navigate the worstfinancial crisis since the Great Depression, fromboom to bust to rescue to recovery. In a candid, riveting, and historically illuminating memoir, hetakes readers behind the scenes of the crisis, explaining the hard choices and politicallyunpalatable decisions he made to repair a brokenfinancial system and prevent the collapse of theMain Street economy. This is the inside story of howa small group of policy makersain a thick fog of uncertainty, with unimaginably high stakesahelpedavoid a second depression but lost the Americanpeople doing it. Stress Test is also a valuable guide to how governments can better manage financial crises, because this one wonat be the last. Stress Test reveals a side of Secretary Geithner thepublic has never seen, starting with his childhood asan American abroad. He recounts his early days asa young Treasury official helping to fight theinternational financial crises of the 1990s, then describes what he saw, what he did, and what hemissed at the New York Fed before the Wall Streetboom went bust. He takes readers inside the roomas the crisis began, intensified, and burned out ofcontrol, discussing the most controversial episodesof his tenures at the New York Fed and theTreasury, including the rescue of Bear Stearns; theharrowing weekend when Lehman Brothers failed;the searing crucible of the AIG rescue as well as thefuror over the firmas lavish bonuses; the battlesinside the Obama administration over his widely criticized but ultimately successful plan to end thecrisis; and the bracing fight for the most sweepingfinancial reforms in more than seventy years.Secretary Geithner also describes the aftershocksof the crisis, including the administrationas efforts toaddress high unemployment, a series of brutalpolitical battles over deficits and debt, and thedrama over Europeas repeated flirtations with theeconomic abyss. Secretary Geithner is not a politician, but he hasthings to say about politicsathe silliness, the nastiness, the toll it took on his family. But in theend, Stress Test is a hopeful story about public service. In this revealing memoir, Tim Geithner explains how America withstood the ultimate stress test of its political and financial systems. From the Hardcover edition.This is the inside story of howa small group of policy makersain a thick fog of uncertainty, with unimaginably high stakesahelpedavoid a second depression but lost the Americanpeople doing it.
|Title||:||Stress Test: Reflections on Financial Crises|
|Author||:||Timothy F. Geithner|