Stress Test: Reflections on Financial Crises
New York Times Bestseller
Washington Post Bestseller
Los Angeles Times Bestseller
Stress Test is the story of Tim Geithner’s education in financial crises.
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 Depress
Geithner was the head of The Fed when the crisis first broke and later became Secretary of Treasury under President Obama. He details the behind the scenes of what was the worst economic and financial crisis since The Great Depression. While some of ...more
And who was he? Those of us just watching his pronouncements and public speeches, or feeling the impact of his decisions really did not have a good ...more
Thus far, I've managed to read about ninety percent of Secretary Geithner's new book, "Stress Test". At nearly six hundred pages, this tome is a first-hand account of the 2007 financial crisis that nearly upended the US financial system, forced millions of American homeowners into foreclosure and resulted in millions of lost jobs.
I think Secretary Geithner's book reflects humility and balance in that he acknowledges the mistakes that he a ...more
His book does not disappoint: throughout the text, Geithner candidly admits what his weaknesses are, fairly assesses the successes ...more
I gave it two stars, which I consider a generous rating, only because of the effort expended. The book seemed to be nothing more than a disingenuous “apology tour” to his wife and a reaffirmation of his belief that he made all the right decisions, if only those who were ignorant could have ...more
The book started slowly for me and picked up steam as it unfolded. About halfway through it became a ‘page turner.’ Having now read the notes AND acknowledgements, I realize that the book was ...more
Here's what you'll not find in this book: The personal philosophies, principles, and policies Geithner used to run a major cabinet agency and the New York Federal Reserve prior to that. There is very little about the advice he gleaned from others, although Robert Rubin and Larry Summers were strong influences and possibly mentors. His economics is pretty rudimentary, mainly just referring to simple Keynesian policies in the book.
The strength of the boo ...more
I gave up about 15% of the way in. I skimmed the last few chapters, but there was nothing there of note. Geithner does not have the cojones to even give some sort of speculative analysis. That is a pity. I would have hoped he would have some insights to show, but he does not.
I learned almost nothing about the financial crisis that I had not already understood from various other books (Even Andrew Ross Sorkin's celebrity-rag style tell-all is chock f ...more
Second, I heard Ky Rysdall interview Mr. Geithner on Marketplace before I read the book and I was very impressed with Mr. Geithner's recollections of his roles in 2007-2013, and his concerns about the current state of the financial ecosystem. After I heard the ...more
Theres a lot here which reminds me of Nassim Taleb and Roger Lowenstein. Its very clear how the implosion of LTCM served as prelude to the financial crisis.
All financial crises have a common root: Debt. That fickle friend of good times will always turn against you when times get tough. Traders take on debt to juice their returns. If a $100 bet potentially returns $1o1, I can ...more
This guy is way wordier than even I am, but in an opposite direction. There is nothin ...more
GOOD: This book is all you need to understand and navigate the ...more
Reading this book really challenged my perceptions ...more
Having grown up in a number of countries due to his father's jobs, primarily with the Ford Foundation; Geithner had a unique background that led him to work for the international sector of the Treasury Department, and the International Monetary Fund before his term as President of the New York Fed. He had important exposure t ...more
|Eliminar o estresse e viver feliz, mais saudável e perseguir o seu destino||1||1||May 02, 2016 11:28PM|