A clear, concise account illustrating why financial fires must be anticipated if they’re to be controlled.
Three principal policymakers and “firefighters” during the 2008 financial crash describe the crisis and suggest policies to prepare for an inevitable return.
The fire metaphors flare brightly in the first half of this brief, cogent account of the near collapse of the American economy near the end of the presidency of George W. Bush and the beginning of Barack Obama’s. Bernanke (The Courage to Act, 2015, etc.), Geithner (Stress Test, 2014), and Paulson Jr. (Dealing with China, 2015, etc.) mention themselves by first name throughout (Ben, Tim, Hank) and are occasionally heavy on self-congratulation, but they also express humility. For example, they note how a Geithner speech, intended to calm markets and investors, had the opposite effect. The authors are also generally nonpartisan, though several times they allude to the dangers of today’s “bitterly polarized politics,” and they praise Obama more than those on the right will probably enjoy. They also respond several times to critics from a decade ago who assailed them for saving Wall Street and largely ignoring Main Street. The authors’ approach is straightforward and easy to digest: Describe what caused the collapse; tell about the measures the government took to contain it; comment on what worked and what didn’t; discuss the fallout; speculate about what needs to be done now. They take care to clarify such terms as “derivatives” and “leverage” so that readers unclear about them (and numerous others) can easily follow the text. They are admonitory toward the end, reminding us of a truth that applies not just in the financial-crisis world: “The enemy is forgetting.” The authors—each of whom has published a memoir about the crisis—are not especially memorable stylists, too often relying on clichés—e.g., “fallen through the cracks,” “get ahead of the curve.”
A clear, concise account illustrating why financial fires must be anticipated if they’re to be controlled.Pub Date: April 16, 2019
ISBN: 978-0-14-313448-0
Page Count: 160
Publisher: Penguin
Review Posted Online: Feb. 2, 2019
Kirkus Reviews Issue: Feb. 15, 2019
BOOK REVIEW
BOOK REVIEW
BOOK REVIEW
The author's youthfulness helps to assure the inevitable comparison with the Anne Frank diary although over and above the...
Elie Wiesel spent his early years in a small Transylvanian town as one of four children.
He was the only one of the family to survive what Francois Maurois, in his introduction, calls the "human holocaust" of the persecution of the Jews, which began with the restrictions, the singularization of the yellow star, the enclosure within the ghetto, and went on to the mass deportations to the ovens of Auschwitz and Buchenwald. There are unforgettable and horrifying scenes here in this spare and sombre memoir of this experience of the hanging of a child, of his first farewell with his father who leaves him an inheritance of a knife and a spoon, and of his last goodbye at Buchenwald his father's corpse is already cold let alone the long months of survival under unconscionable conditions.
Pub Date: Jan. 16, 2006
ISBN: 0374500010
Page Count: 120
Publisher: Hill & Wang
Review Posted Online: Oct. 7, 2011
Kirkus Reviews Issue: Jan. 15, 2006
A standout immigrant coming-of-age story.
In her first nonfiction book, novelist Grande (Dancing with Butterflies, 2009, etc.) delves into her family’s cycle of separation and reunification.
Raised in poverty so severe that spaghetti reminded her of the tapeworms endemic to children in her Mexican hometown, the author is her family’s only college graduate and writer, whose honors include an American Book Award and International Latino Book Award. Though she was too young to remember her father when he entered the United States illegally seeking money to improve life for his family, she idolized him from afar. However, she also blamed him for taking away her mother after he sent for her when the author was not yet 5 years old. Though she emulated her sister, she ultimately answered to herself, and both siblings constantly sought affirmation of their parents’ love, whether they were present or not. When one caused disappointment, the siblings focused their hopes on the other. These contradictions prove to be the narrator’s hallmarks, as she consistently displays a fierce willingness to ask tough questions, accept startling answers, and candidly render emotional and physical violence. Even as a girl, Grande understood the redemptive power of language to define—in the U.S., her name’s literal translation, “big queen,” led to ridicule from other children—and to complicate. In spelling class, when a teacher used the sentence “my mamá loves me” (mi mamá me ama), Grande decided to “rearrange the words so that they formed a question: ¿Me ama mi mamá? Does my mama love me?”
A standout immigrant coming-of-age story.Pub Date: Aug. 28, 2012
ISBN: 978-1-4516-6177-4
Page Count: 320
Publisher: Atria
Review Posted Online: June 11, 2012
Kirkus Reviews Issue: July 1, 2012
BOOK REVIEW
BOOK REVIEW
BOOK REVIEW
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