TOO BIG TO FAIL BOOK

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Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the Financial System—and Themselves, also known as Too Big to Fail. Andrew Ross Sorkin delivers the first true behind-the-scenes, moment-by-moment account of how the greatest financial crisis since the Great Depression developed into a global tsunami. See 1 question about Too Big to Fail. Andrew Ross Sorkin is The New York Timess chief mergers and. Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the Financial System--and Sold by: Fun with Books and Board Games.


Too Big To Fail Book

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Editorial Reviews. Review. “Comprehensive and chilling.” —Time “ His action scenes are . “Too Big to Fail” is an altogether excellent book by financial journalist Andrew Ross Sorkin. It's a compelling narrative that tells the story of how the. earn your way to a free book! Too Big to Fail by Andrew Ross Sorkin . “Sorkin has succeeded in writing the book of the crisis, with amazing levels of detail. They were masters of the financial universe, flying in private jets and raking in billions. They thought they were too big to fail. This book gives an account of the.

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Too Big to Fail: Inside the Battle to Save Wall Street [Paperback]

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This is not surprising. Wall Street professionals speaking openly about what Sorkin chronicles is at the very least quite rare. Moreover, many of the key players, particularly at Lehman, can ill afford to compromise themselves in light of the lawsuits in which they are embroiled.

The access and detail here is so great that it must have created envious Pavlovian drool in the mouths of many a business journalist. Still, this comprehensive blanket of anonymity frees Sorkin to write what he will with little risk that his narrative can be discredited.

As a result, one is left wondering how much of this tale is entirely accurate and how much is essentially an educated guess.

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At the very least it is clear that the book is suffused with poetic license. In one sense this a particular strength of the book. It reads like a novel. Still, one cannot seriously entertain the notion that those interviewed by Sorkin and his team described each sigh, each smile, the placing of one's head in one's hands.

This creates uncertainty as to exactly how much license was taken. In short, how accurate is this book?

As a former Lehmanite, I can vouch for the accuracy of much that I read. I also noted a smattering of errors. None of these were significant enough to cause particular annoyance or substantially undermine the veracity of his account -- yet they are there. Perhaps most amusing was a sentence where Sorkin refers to a female Lehman executive with a unisex name as a male.

Too Big to Fail

There has been much talk—in my opinion, overdone—that Dick Fuld was hermetically sealed off from the happenings at Lehman. In a sense, Sorkin has, however, placed himself in a similar dome of silence with the mighty few who by definition are not fully aware of much that occurs on the floors below their executive offices.

As a result, his information is sourced from many public figures managing public perceptions of themselves, who must therefore speak with a personal agenda that is anything but objective.Only a year before, the markets had celebrated eye-popping profits fueled by mortgage innovations.

Businesses would not pay their overnight deposits in the next night, everyone would demand to be paid in cash, shops would not accept credit cards, debit cards wouldn't work. New York Times reporter Andrew Ross Sorkin, who gained access to many high-level financial players, provides an ambitious, remarkably detailed account of the collapse and bailouts of Looking for More Great Reads?

With the federal government allowing Lehman to fail, then abruptly moving to save others, Democratic Rep. He founded DealBook, an online daily financial report. Download Hi Res.

Its final message is a worrying one.