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
You could take [the CEO of Goldman Sachs] Lloyd Blankfein into a dark alley and slit his throat, and it would satisfy them for about two days. Then the blood lust would rise again.
-Former President Bill Clinton, to the author
Timothy Geithner has the unusual habit of showing up in the middle of international crises. His time as head of the New York Federal Reserve and as the Secretary of the Treasury had placed him at the center of the ...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 ...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
I honestly didn't expect to finish this book, but I figured I'd make it further than 15%. While it is supposed to be about the 2008 financial crisis in the USA, the author decided to preface that with a biography of himself and his past economic dealings. It is understandable, as it puts in perspective why he was the man to tackle the crisis, since he had dealt with other foreign crises prior to the 2008 one. But I don't particularly care about the details of the Mexican, Thailand, and ...more
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