Close cookie details

This site uses cookies. Learn more about cookies.

OverDrive would like to use cookies to store information on your computer to improve your user experience at our Website. One of the cookies we use is critical for certain aspects of the site to operate and has already been set. You may delete and block all cookies from this site, but this could affect certain features or services of the site. To find out more about the cookies we use and how to delete them, click here to see our Privacy Policy.

If you do not wish to continue, please click here to exit this site.

Hide notification

  Main Nav
Firefighting
Cover of Firefighting
Firefighting
The Financial Crisis and Its Lessons
Borrow Borrow Borrow
From the three primary architects of the American policy response to the worst economic catastrophe since the Great Depression, a magnificent big-picture synthesis—from why it happened to where we are now
In 2018, Ben Bernanke, Tim Geithner, and Hank Paulson came together to reflect on the lessons of the 2008 financial crisis ten years on. Recognizing that, as Ben put it, "the enemy is forgetting," they examine the causes of the crisis, why it was so damaging, and what it ultimately took to prevent a second Great Depression. And they provide to their successors in the United States and the finance ministers and central bank governors of other countries a valuable playbook for reducing the damage from future financial crises. Firefighting provides a candid and powerful account of the choices they and their teams made during the crisis, working under two presidents and with the leaders of Congress.
From the three primary architects of the American policy response to the worst economic catastrophe since the Great Depression, a magnificent big-picture synthesis—from why it happened to where we are now
In 2018, Ben Bernanke, Tim Geithner, and Hank Paulson came together to reflect on the lessons of the 2008 financial crisis ten years on. Recognizing that, as Ben put it, "the enemy is forgetting," they examine the causes of the crisis, why it was so damaging, and what it ultimately took to prevent a second Great Depression. And they provide to their successors in the United States and the finance ministers and central bank governors of other countries a valuable playbook for reducing the damage from future financial crises. Firefighting provides a candid and powerful account of the choices they and their teams made during the crisis, working under two presidents and with the leaders of Congress.
Available formats-
  • Kindle Book
  • OverDrive Read
  • EPUB eBook
Languages:-
Copies-
  • Available:
    1
  • Library copies:
    1
Levels-
  • ATOS:
  • Lexile:
  • Interest Level:
  • Text Difficulty:

Recommended for you

Reviews-
  • Kirkus

    February 15, 2019
    Three principal policymakers and "firefighters" during the 2008 financial crash describe the crisis and suggest policies to prepare for an inevitable return.The fire metaphors flare brightly in the first half of this brief, cogent account of the near collapse of the American economy near the end of the presidency of George W. Bush and the beginning of Barack Obama's. Bernanke (The Courage to Act, 2015, etc.), Geithner (Stress Test, 2014), and Paulson Jr. (Dealing with China, 2015, etc.) mention themselves by first name throughout (Ben, Tim, Hank) and are occasionally heavy on self-congratulation, but they also express humility. For example, they note how a Geithner speech, intended to calm markets and investors, had the opposite effect. The authors are also generally nonpartisan, though several times they allude to the dangers of today's "bitterly polarized politics," and they praise Obama more than those on the right will probably enjoy. They also respond several times to critics from a decade ago who assailed them for saving Wall Street and largely ignoring Main Street. The authors' approach is straightforward and easy to digest: Describe what caused the collapse; tell about the measures the government took to contain it; comment on what worked and what didn't; discuss the fallout; speculate about what needs to be done now. They take care to clarify such terms as "derivatives" and "leverage" so that readers unclear about them (and numerous others) can easily follow the text. They are admonitory toward the end, reminding us of a truth that applies not just in the financial-crisis world: "The enemy is forgetting." The authors--each of whom has published a memoir about the crisis--are not especially memorable stylists, too often relying on clichés--e.g., "fallen through the cracks," "get ahead of the curve."A clear, concise account illustrating why financial fires must be anticipated if they're to be controlled.

    COPYRIGHT(2019) Kirkus Reviews, ALL RIGHTS RESERVED.

  • Library Journal

    Starred review from April 1, 2019

    Key U.S. government policymakers during the 2008 financial crisis, Bernanke (The Courage To Act), Tim Geithner (Stress Test), and Hank Paulson (On the Brink) follow up their individual memoirs with this work discussing their collaboration and lessons learned along the way. The authors use the analogy of fires and firefighting to describe how financial crises arise and are suppressed. According to the authors, the crisis's tinder included easy credit, market overconfidence, shadow banking, opaque mortgage securitization, excessive leverage, and fragmentary regulation. They recount how the sparks from subprime defaults created panic that spread out of control, threatening one financial institution after another. Ending the fear and preventing a depression was very difficult within the context of the regulatory limits and political atmosphere. Postcrisis reforms, they warn, strengthened safeguards to prevent another crisis but weakened the tools needed to deal with one. VERDICT All kinds of readers will find this work a readable summary of the crisis, but its paramount value comes from the authors' explanations and defenses of their whatever-it-takes actions and assessment of current financial system risks. A complementary account is Andrew Sorkin's riveting Too Big To Fail.--Lawrence Maxted, Gannon Univ. Lib., Erie, PA

    Copyright 2019 Library Journal, LLC Used with permission.

Title Information+
  • Publisher
    Penguin Publishing Group
  • Kindle Book
    Release date:
  • OverDrive Read
    Release date:
  • EPUB eBook
    Release date:
Digital Rights Information+
  • Copyright Protection (DRM) required by the Publisher may be applied to this title to limit or prohibit printing or copying. File sharing or redistribution is prohibited. Your rights to access this material expire at the end of the lending period. Please see Important Notice about Copyrighted Materials for terms applicable to this content.

Status bar:

You've reached your checkout limit.

Visit your Checkouts page to manage your titles.

Close

You already have this title checked out.

Want to go to your Checkouts?

Close

Recommendation Limit Reached.

You've reached the maximum number of titles you can recommend at this time. You can recommend up to 99 titles every 1 day(s).

Close

Sign in to recommend this title.

Recommend your library consider adding this title to the Digital Collection.

Close

Enhanced Details

Close
Close

Limited availability

Availability can change throughout the month based on the library's budget.

is available for days.

Once playback starts, you have hours to view the title.

Close

Permissions

Close

The OverDrive Read format of this eBook has professional narration that plays while you read in your browser. Learn more here.

Close

Holds

Total holds:


Close

Restricted

Some format options have been disabled. You may see additional download options outside of this network.

Close

MP3 audiobooks are only supported on macOS 10.6 (Snow Leopard) through 10.14 (Mojave). Learn more about MP3 audiobook support on Macs.

Close

You've reached your library's checkout limit for digital titles.

To make room for more checkouts, you may be able to return titles from your Checkouts page.

Close

Excessive Checkout Limit Reached.

There have been too many titles checked out and returned by your account within a short period of time.

Try again in several days. If you are still not able to check out titles after 7 days, please contact Support.

Close

You have already checked out this title. To access it, return to your Checkouts page.

Close

This title is not available for your card type. If you think this is an error contact support.

Close

An unexpected error has occurred.

If this problem persists, please contact support.

Close

Close

NOTE: Barnes and Noble® may change this list of devices at any time.

Close
Buy it now
and help our library WIN!
Firefighting
Firefighting
The Financial Crisis and Its Lessons
Ben S. Bernanke
Choose a retail partner below to buy this title for yourself.
A portion of this purchase goes to support your library.
Clicking on the 'Buy It Now' link will cause you to leave the library download platform website. The content of the retail website is not controlled by the library. Please be aware that the website does not have the same privacy policy as the library or its service providers.
Close
Close

There are no copies of this issue left to borrow. Please try to borrow this title again when a new issue is released.

Close
Barnes & Noble Sign In |   Sign In

You will be prompted to sign into your library account on the next page.

If this is your first time selecting “Send to NOOK,” you will then be taken to a Barnes & Noble page to sign into (or create) your NOOK account. You should only have to sign into your NOOK account once to link it to your library account. After this one-time step, periodicals will be automatically sent to your NOOK account when you select "Send to NOOK."

The first time you select “Send to NOOK,” you will be taken to a Barnes & Noble page to sign into (or create) your NOOK account. You should only have to sign into your NOOK account once to link it to your library account. After this one-time step, periodicals will be automatically sent to your NOOK account when you select "Send to NOOK."

You can read periodicals on any NOOK tablet or in the free NOOK reading app for iOS, Android or Windows 8.

Accept to ContinueCancel