Economic Perspectives with Hopeton Hay on KAZI 88.7 FM in Austin, TX

Chronicle of Efforts to Save U.S. Financial System Focus of KAZI Book Review

Posted by Hopeton on November 21, 2009

Andrew Ross Sorkin, author of Too Big To Fail: The inside story of how Wall Street and Washington fought to save the financial system and themselves, is the November  22 guest on KAZI Book Review, 12:30 p.m. – 1 p.m. on KAZI 88.7 FM.  (If you missed this interview and would like to know when it will be available to download to a CD or your mp3 player or IPOD email hopeton@econpers.com) Sorkin delivers a behind-the-scenes, moment-by-moment account of how the greatest financial crisis since the Great Depression developed into a global tsunami. From inside the corner office at Lehman Brothers to secret meetings in South Korea, and the corridors of Washington, Too Big to Fail is the story of the most powerful men and women in finance and politics grappling with success and failure, ego and greed, and, ultimately, the fate of the world’s economy.

“We’ve got to get some foam down on the runway!” a sleepless Timothy Geithner, the then-president of the Federal Reserve of New York, would tell Henry M. Paulson, the Treasury secretary, about the catastrophic crash the world’s financial system would experience.

Andrew Ross Sorkin (photo by Brent Murray)

Through unprecedented access to the players involved, Too Big to Fail re-creates all the drama and turmoil, revealing never disclosed details and elucidating how decisions made on Wall Street over the past decade sowed the seeds of the debacle. This true story is not just a look at banks that were “too big to fail,” it is a real-life thriller with a cast of bold-faced names who themselves thought they were too big to fail.

Sorkin is the award-winning chief mergers and acquisitions reporter for The New York Times, a columnist, and assistant editor of business and finance news. He is also the editor and founder of DealBook, an online daily financial report. He has won a Gerald Loeb Award, the highest honor in business journalism, and a Society of American Business Editors and Writers Award. In 2007, the World Economic Forum named him a Young Global Leader.

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