By Timothy F. Geithner, Ben S. Bernanke
Published: 2019
"Should be required reading for all policy makers.” —Warren Buffett 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.
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Timothy F. Geithner is an influential American author and economist, best known for his role as the 75th Secretary of the Treasury under President Barack Obama during the critical years of the financial crisis from 2009 to 2010. He is the author of the bestselling memoir "Stress Test: Reflections on Financial Crises," where he provides an insider's perspective on the tumultuous events that shaped the global economy. Geithner's writing style is characterized by a blend of analytical rigor and personal narrative, offering readers an in-depth look at both the technical and human aspects of economic policy-making. In addition to his government service, he has held key positions at the International Monetary Fund and the Federal Reserve Bank of New York, contributing to his reputation as a leading voice on economic issues.
Ben S. Bernanke is an American economist and author, best known for his tenure as the Chairman of the Federal Reserve from 2006 to 2014. He played a crucial role during the financial crisis of 2008, implementing policies that were pivotal in stabilizing the economy. Bernanke is also recognized for his scholarly contributions to macroeconomics and monetary policy, with notable works including 'The Federal Reserve and the Financial Crisis' and 'Currency and Crisis: The Political Economy of Exchange Rate Pegging in Developing Countries.' His writing style blends rigorous economic analysis with accessible explanations, making complex concepts understandable for a broader audience.
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