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From the former Treasury Secretary, the definitive account of the unprecedented effort to save the U.S. overall economy from collapse in the wake of the most detrimental global financial meltdown since the Great Depression. On January 26, 2009, through the depth of the financial meltdown and having just completed five years as President of the Federal government Reserve Lender of New York, Timothy F. Geithner was sworn in by President Barack Obama as the 75th Secretary of the Treasury of america. Now, in a strikingly candid, riveting, and historically illuminating memoir, Geithner takes listeners behind the moments through the darkest moments of the turmoil. Swift, decisive, and creative action was necessary to avert a second Great Depression, but policy makers encountered a fog of doubt, with no good options and the risk of catastrophic final results. Stress Test: Reflections on Financial Crises takes us inside the area, detailing in accessible and forthright conditions the hard choices and politically unpalatable decisions that Geithner yet others in the Obama administration made through the crisis and restoration. He discusses the most controversial moments of his tenures at the Federal government Reserve Lender of New York with the Treasury, including the harrowing weekend Lehman Brothers proceeded to go bankrupt; the searing crucible of the AIG bonuses controversy; the introduction of his broadly criticized but finally successful strategy in early on 2009 to end the turmoil; the bracing battle for the most sweeping financial reforms in 70 years; and the lingering aftershocks of the turmoil, including high unemployment, the fiscal battles, and Europe's repeated flirtations with the economical abyss. Geithner also stocks his personal and professional recollections of key players such as President Obama, Ben Bernanke, Hank Paulson, and Larry Summers, amongst others, and examines the tensions between politics and insurance plan that have come to dominate discussions of the U.S. overall economy. An insider's account of how the Obama administration saved the overall economy but lost the American people, Stress Test uncovers a part of Timothy Geithner that only few have observed.
