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Confidence Men: Wall Street, Washington, and the Education of a President

3.78  ·  Rating Details  ·  1,919 Ratings  ·  223 Reviews
AcclaimedPulitzer Prize-winning journalist Ron Suskind, authorof the New York Times bestselling The Way of the World, The OnePercent Doctrine, and The Price of Loyalty, gives anexplosive inside account of an Obama White House overwhelmed by the globalfinancial crisis—and the political and economic consequences still being felttoday. Readers of Michael Lewis’s The Big Short ...more
Paperback, 528 pages
Published June 19th 2012 by Harper Perennial (first published September 20th 2011)
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(showing 1-30 of 3,000)
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Frank Stein
This has got to be one of the most infuriating books ever written. First, the author knows nothing, and I mean nothing, about the basic economics that underpins the whole debate the book is putatively about. He confuses bank assets with liabilities, the "multiplier effect" with consumption spending, annual deficits with total debt, and on and on and on. Even more frustrating, however, is the fact that I have never in my life read a book with more plain and simple factual errors. It is almost ine ...more
David Drum
Dec 30, 2011 David Drum rated it really liked it  ·  review of another edition
My liberal friends have two views of President Barack Obama, the first African American to be elected President. The most cynical view is that Obama was always a “Trojan horse,” talking liberal talk while always basically aligned with the interests of corporate America and Wall Street. A more sympathetic view is that Obama went into office a good man with great ideas, and simply couldn’t pull them off because he wasn’t up to the job.

Ron Suskind’s book, Confidence Men: Wall Street, Washington, an
Michele Weiner
Oct 09, 2011 Michele Weiner rated it it was amazing  ·  review of another edition
I loved this inside look at the Obama White House by Ron Suskind, whose recent current affairs efforts have been equally stunning. He says that Barack Obama was forced by crisis to change his course dramatically in key areas: the Bush tax cuts, health care, and Wall Street reform were all impacted by his fear of doing harm to desperate Americans. Also, he was stymied by the strong opinions of his advisors, including most notably Larry Summers, Tim Geithner and Rahm Emmanuel. In the end, having c ...more
This is a deeply perplexing book.

In the Woodward/Bernstein tradition of political journalism, this book offers a contemporary view of a political crisis, as it happens, using extensive interviews to provide an 'as-if-you-were-there' intimate perspective.

We see the financial crisis unfold, and it is not pretty.

There are many striking revelations here, the first being that the President received advanced warning on the crisis, even during his electoral campaign. Of course, he had numerous other is
Oct 01, 2011 Kent rated it really liked it  ·  review of another edition
Some people have told me that they thought this book was a “hit piece” on the President. I can't agree; however, it is clearly not written from the perspective of blind love for him either. It seems to be a fair record of events during the first few years of the Obama administration. The story is of two capitol cities Washington, DC and New York, NY (capitol of capital and finance). It covers contributing elements of the economic collapse; how a new administration attempted recovery, and finance ...more
Maddi Sojourner
Sep 28, 2011 Maddi Sojourner rated it really liked it  ·  review of another edition
Shelves: politics, finance
Four and a half stars.

While I thought this would be a political inside-the-mind-of-the-advisors type of book, there's quite a bit of The Big Short (Michael Lewis) in here too; an explanation of the Wall Street shenanigans that led to the near-collapse of the US economy. Suskind has to spend time getting us into that mileau to explain where the economic advisors either came from or were reacting to.

Certainly some of the advisers come across better than others, and with a book of this type one alw
George Bradford
Why did President Barack Obama fall so short of the expectations of the citizens who elected him? What happened to the change he promised? Where did the hope go? Pulitzer Prize winning journalist Ron Suskind lays it out in excruciating detail. And for a reader like me (who supported, campaigned, raised money and voted for Barack Obama), "Confidence Men" is a brutally painful book to read.

But the pain is worth it (if, like me, you love your country, believe its best days are still ahead and want
Adam Snider
This is both the first book I've read on the Obama presidency, and the first book I've read by Ron Suskind, and it has left me feeling slightly ambiguous about both. Confidence Men isn't just a book about the Obama phenomenon - it jumps repeatedly back and forth between Wall Street and Washington, using the story of the first two years of the new administration as a doorway into a host of other topics: the evolution of the financial industry since the '70s, the rise of the Tea Party, the 2008 el ...more
Dec 10, 2011 Bryan rated it liked it  ·  review of another edition
Shelves: audio
First, it struck me as strange to be reading a book about a sitting president’s cabinet. It felt like a forced telescoping (microscoping?) of history. I still have mixed feelings about this. I have never read a book like this before (one about a sitting president’s cabinet). It felt lurid. I couldn’t resist after so many members of said cabinet tried to backtrack in the press after the book was released. To me, this meant whatever was in the book was probably true. Or maybe the author had misrep ...more
Ron Suskind’s book provides two valuable services for readers. First is an excellent analysis of the roots of the current financial crisis and second an in-depth and behind-the-scenes description of how Washington reacted to the crisis. Suskind brings to the table an ability to synthesize the experiences of most of the key players into a compulsively readable narrative. If you don’t understand what happened and how Wall Street gambled the country away then this book will illuminate that. Suskind ...more
Justin Mitchell
Dec 22, 2011 Justin Mitchell rated it really liked it  ·  review of another edition
Anyone still wondering how on earth Obama managed to squander his incredible level of political capital in the first two years of his presidency needs to read this. It's incredibly dense, incredibly abstract at times--especially when discussing the ever-maddening-to-comprehend world of derivatives--but also painstakingly details the way in which entrenched Washington players managed to curb the wishes of the American people and their elected president. While it's garnered criticism from some of ...more
Ken McDouall
Dec 22, 2014 Ken McDouall rated it really liked it  ·  review of another edition
Ron Suskind has a knack for turning obscure history into compelling narratives, and he doesn't disappoint here. He fills in the cast of characters like a novelist wielding his creative toolbox--Obama's economic advisers, the Fed, the politicians making up the legislative milieu. We learn quite a lot about Obama's personality, his methods of managing meetings, and his managerial style. It is the latter the comes up severely lacking in Suskind's account. Always engaging, intelligent, concerned, an ...more
Jul 19, 2012 Drake rated it it was amazing  ·  review of another edition
Ahhh, it’s an election year and time for politics. My first dive was into Ron Suskind’s Confidence Men and it was amazing. Summarizing the early years of the Obama presidency, the book contrasts the hopes and desires of the young president with the soul-crushing realities of mismanagement and incompetence. Although, I didn’t always agree with Suskind’s premise of the self-destruction of males in powerful positions, there was plenty of research to back it up. From the way President Obama heeded t ...more
Joseph D. Walch
There is a point at which journalism turns into historiography, when the current events have passed sufficiently to allow the historian beach-comber to piece together a more comprehensive representation of the events. This was one of those first historical accounts to emerge from the nascent Obama administration. The author was given plenty of access to the President and his economic team in writing this book. Previously, Ron Suskind had written critically of Pres. Bush and so perhaps the admini ...more
Dec 24, 2011 Flavio rated it liked it  ·  review of another edition
Confidence men makes the case that "confidence" is a quality that determines outcomes in the political process more often than one imagines. In one sense the book uses confidence to mean faith. Picking a leader is an act of faith in some measure.By faith I mean belief without absolute knowledge.The book also points out that many of the actors in the political and economic arena in recent years have also projected confidence, may times unwarranted confidence, in order to convince others and push ...more
Les Aucoin
Jan 06, 2012 Les Aucoin rated it really liked it  ·  review of another edition
Shelves: history
This book by an award-winning author, the first who had inside access to the Obama White House, names names of culprits in the greatest failure of the American financial system since the Great Depression and how they worked to enrich themselves while building a bubble economy that produced little underlying value.

It spotlights Wall Street flimflam artists whose venal hawking of credit swap derivatives of sub-prime mortgage instruments led to the Great Recession of 2008 (a calamity which may yet
Jan 03, 2012 Al rated it liked it  ·  review of another edition
I am willing to believe that in the preparation of this book, Mr. Suskind conducted "... 746 hours of interviews ... with more than 200 individuals..." I for one am glad that he didn't talk to more, or longer, than he did. As best I can determine, this book is a wealth of data and stories in search of a theme. It wanders from story line to story line, and from person to person. It's confusing, if not maddening, to find policies and people first viewed favorably, later unfavorably, and in some c ...more
Dave Lefevre
Sep 26, 2011 Dave Lefevre rated it really liked it  ·  review of another edition
Shelves: political
Everything that has been said about this book in the media has been a red herring. Outlets like CNN have chosen to focus the book's sub-narrative about problems female members of the administration faced or that the book shows Obama as "weak." The problems women had in the first two years of the administration are important, but when compared to the overall story of the massive banking crisis Obama faced it's a secondary story that was meant to provide insight into how the Obama Whitehouse took ...more
Catherine Johnson

"It was on a Friday, November 21, that [Christina] Romer first entered Obama's curtain-sealed office in Chicago. Unlike Orszag, she was nervous about meeting Obama and she hadn't even come with any ultimatum or conditions about taking the Council of Economic Advisers job. She was just elated to get to know the guy.

But their first meeting would open on an odd note. Before exchanging hellos or even shaking hands, the president-elect delivered what seemed intended as a zinger.

Muhammad Ahmad
Oct 22, 2011 Muhammad Ahmad rated it really liked it  ·  review of another edition
Shelves: politics, economics
Like his previous book, an otherwise excellent work of investigative journalism is marred by an excess of superfluous detail. This book wouldn't suffer from losing at least 200 of its pages. Suskind writes in the non-fiction novel style of Bob Woodward, though he is a much better writer. But unlike Woodward, he has a tendency to easily get lost in unnecessary embellishment through novelistic details about minor characters.

Like Woodward's last book, Confidence Men paints an unflattering picture
Dan Petegorsky
Suskind’s book has drawn wide attention mainly for some “palace intrigue” passages featuring various WH staffers’ uncharitable assessments of one another and for several sources’ subsequent denials of the accuracy of Suskind’s attributions. That’s a shame, because while these do feature in his book, it’s really much more than that: it’s a sobering, indeed depressing overview of the financial crisis and how it affected and was handled first by candidate and then President Obama and his administra ...more
Heidi Hanson
If you would like to get really, really mad read "Confidence Men" by Suskind. The book explains in layman's terms some of the very complicated financial situations that created the crash of 2008. Once you have a better understanding, however, you will be insensed. Too big to fail? Was Detriot or the steel industry "too big to fail?" If you didn't realize it already the book makes it crystal clear that Wall Streeters love the rules of the game until they lose. Then, it is time to rewrite the rule ...more
Andrew Mccracken
This could be such a great book; and the insights into the people and dynamics of the White House are great. The association of the book with particular individuals agendas is clear enough that you can take the appropriate pinch of salt with the angle the author takes, and really feel that you're seeing in to the challenges of governing in prose after so effectively campaigning in poetry.

However, the editing and structure of the book is just impossible to fathom. The massive cast of characters,
Harry Lane
Nov 11, 2011 Harry Lane rated it it was amazing  ·  review of another edition
Suskind reports indepth and with great detail on the inner workings of the Obama administration's first two years. The conclusion I come away with is that Obama had hoped to become a transformative President, but is failing badly for several reasons. First, a strong argument can be made that he chose the wrong people for his economic team. Second, his strong instinct is to achieve consensus to the degree that it got in the way of making decisions. He did not exercise strong oversight, and severa ...more
Oct 17, 2012 Jim rated it really liked it  ·  review of another edition
I found The Confidence Men to be a fascinating book, but it's not for the faint of heart. The detail Suskind goes into breaking down the economic crisis and the decision making process in Obama's first couple of years is phenomenal. If you like lots of detail and analysis, you'll love this book. Examining the collapse of the housing market, the bailout of the auto industry and the fight for healthcare are a few of the things laid out on the table with tons of behind the scenes interviews and inf ...more
Dec 28, 2015 Amanda rated it liked it  ·  review of another edition
Shelves: history, non-fiction
I'm not exactly sure what I think after reading this book -I thought it would start out as a review of the financial crisis through the partnership of Washington and Wall Street, but it turned out to really be a study of Obama's role (or lack thereof) in both the healthcare reform process and financial reform. There is a startling gap between campaigning for President and actually running the country. Obama seems to drift for the first two years of his term until he takes the reins of his Admini ...more
Uwe Hook
Jan 28, 2012 Uwe Hook rated it really liked it  ·  review of another edition
A stunning portrait of the first 2 years of Obama's administration filled with in-fighting, inexperience and inaction. An important read for any voter, a good glimpse into the psyche of the President.
Nov 26, 2011 Thomas rated it liked it  ·  review of another edition
Just started...already fascinating...and does not reflect very well on the President.
Marty Greenwell
Mar 05, 2015 Marty Greenwell rated it it was amazing  ·  review of another edition
Really enjoyed this. Easy to read and understand, actually much more so than a book on the financial crisis or on politics. The back-and-forth between what was happening on Wall Street and the linking to the US Government was very good. When I would tire of hearing about an issue with Lehman Bros, Suskind would navigate back to Obama as candidate. When I got tired of hearing about the dysfunction of the early days of the Obama White House, he would jump back to negotiations between large financi ...more
Jean-François Lisée
Pour les mordus seulement, il y a Confidence Men, de Ron Suskind, (en français: Obama, la vérité) qui explique en long, large et dans le menu détail comment les conseillers économiques que Barak Obama a eu le tort de choisir au lendemain de son élection de 2008 (Larry Sommers, Rahm Emmanuel et Timothy Geithner) ont sciemment torpillé ses timides efforts visant à réformer réellement le système financier responsable de la crise de 2008.

Le livre est trop long, il faut beaucoup s’accrocher, mais on
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Harper Collins & Murdoch 4 15 Oct 20, 2013 10:24PM  
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Ron Suskind is a Pulitzer Prize-winning American journalist and best-selling author. He was the senior national affairs writer for The Wall Street Journal from 1993 to 2000 and has published several books: A Hope in the Unseen, The Price of Loyalty, The One Percent Doctrine, The Way of the World, Confidence Men, and Life, Animated. He won the 1995 Pulitzer Prize for Feature Writing for his series ...more
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“It is one thing to rouse the passion of a people, and quite another to lead them.” 6 likes
“Younger colleagues tended to draw untested self-confidence from their bonuses and prestigious degrees.” 5 likes
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