Title: Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the Financial System from Crisis — and Themselves
Author: Andrew Ross Sorkin
First published October 20, 2009
624 pages, Kindle Edition
Rating: 4.14
Overview
Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the Financial System from Crisis — and Themselves by Andrew Ross Sorkin is an enthralling page-turner that takes readers behind the scenes of the infamous financial crisis that shook the world. Sorkin, a New York Times columnist and a well-respected financial reporter, provides an unprecedented, blow-by-blow account of the epochal economic catastrophe that brought the global economy to its knees.
With unparalleled access to the key players involved, Sorkin’s narrative is a compelling tale of greed, ego, fear, and self-preservation that shaped the destiny of the world’s economy. This is a brilliantly reported and captivating true-life thriller that will leave readers spellbound.
About the Author
Meet Andrew Ross Sorkin, a prominent journalist at The New York Times. Sorkin is an expert in mergers and acquisitions and shares his insights as a columnist.
He’s also the founder and editor of DealBook, a daily financial report that he launched in 2001. Sorkin plays a key role in shaping the Times’ coverage of business and finance news as an assistant editor.
Editoral Review
In “Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the Financial System from Crisis — and Themselves,” author Andrew Ross Sorkin provides a deep dive into the 2008 financial crisis, exposing the intricate details of the events leading up to the collapse and the subsequent response from those in power. Sorkin, a financial journalist and columnist for The New York Times, lends his expertise and insider knowledge to deliver a compelling account of one of the most significant events in recent economic history.
The book explores the interconnected relationships between government officials and major financial players, revealing how their actions or inactions led to the destabilization of the financial system. Through interviews and insider accounts, Sorkin paints vivid portraits of key figures such as Treasury Secretary Hank Paulson, Federal Reserve Chairman Ben Bernanke, and the CEOs of major banks like Lehman Brothers and Goldman Sachs.
These characters are complex and flawed, and Sorkin provides a nuanced exploration of their motivations and decision-making processes. Sorkin’s writing style is engaging and accessible, making the complex financial jargon and concepts easy to understand without sacrificing depth or accuracy.
The pacing of the book is expertly crafted, leading the reader through the timeline of events with a keen sense of urgency and tension. Additionally, Sorkin weaves in broader themes and discussions around the nature of capitalism, government intervention, and the moral obligations of those in power.
The historical significance of “Too Big to Fail” cannot be understated. The book serves as both a cautionary tale and a reflection of the flaws and challenges of modern American capitalism.
It has also become required reading for any student of economics, finance, or politics. However, the book is not without flaws.
Some critics have pointed out that Sorkin’s focus on the top-level players in the crisis neglects the experiences of everyday Americans who were affected by the collapse. Additionally, the book’s emphasis on the actions of individuals rather than larger systemic issues may oversimplify the true complexity of the crisis and its aftermath.
Despite these limitations, “Too Big to Fail” remains a must-read for anyone interested in understanding the causes and consequences of the 2008 financial crisis. It provides a gripping narrative that humanizes the key players in the crisis while providing crucial insight into the workings of the financial system.
For this reason, I highly recommend this book to anyone looking to deepen their understanding of the events that shaped our modern economy. Rating: 4.5/5 stars
