Senseless Panic: How Washington Failed America

Overview

Panic is a thoughtful analysis of what went wrong with the nation’s banking system—from mistakes made in the private sector as well as serious missteps by government at various levels of the government. Author George Issac, a Fed insider who wasn't involved in the botched decision making of 2008, was asked to testify before Congress about the bank rescue plan which he opposed. In this book, he presents a blunt indictment of the US policy.

William Issac, who lead the highly ...

See more details below
Other sellers (Paperback)
  • All (12) from $1.99   
  • New (6) from $9.55   
  • Used (6) from $1.99   

Overview

Panic is a thoughtful analysis of what went wrong with the nation’s banking system—from mistakes made in the private sector as well as serious missteps by government at various levels of the government. Author George Issac, a Fed insider who wasn't involved in the botched decision making of 2008, was asked to testify before Congress about the bank rescue plan which he opposed. In this book, he presents a blunt indictment of the US policy.

William Issac, who lead the highly successful efforts to control the great banking and S&L crises of the 1980s and early 1990s, believes that the 2008 crisis was in large part attributable to the misdiagnosis of the banking and S&L crises of the 1980s. He does not hesitate to identify the policy mistakes over the two decades from 1990 to 2008 that led to the crisis of 2008 and the bungling of the crisis by top government leaders, such as Secretary Paulson, that turned that crisis into a PANIC. The book concludes by discussing what must be done to prevent future crises and is highly critical of the current financial reform proposals from the Obama Administration and the Congress, arguing that they are weak and ineffective.

Read More Show Less

Product Details

  • ISBN-13: 9781118431986
  • Publisher: Wiley
  • Publication date: 7/31/2012
  • Edition number: 1
  • Pages: 240
  • Sales rank: 695,235
  • Product dimensions: 5.90 (w) x 8.90 (h) x 0.70 (d)

Meet the Author

William M. Isaac is Senior Managing Director and Global Head of Financial Institutions for FTI Consulting and Chairman of Fifth Third Bancorp. Both are positions he assumed after this book was published in its hardcover edition. He served as Chairman of the Federal Deposit Insurance Corporation during the banking and S&L crises of the 1980s, when some 3,000 banks and thrifts failed, including nine of the ten largest Texas banks as well as Continental Illinois, then the nation's seventh largest bank. Isaac writes frequently for the Wall Street Journal, Financial Times, Forbes, Washington Times, Washington Post, New York Times, American Banker, and other leading publications; testifies before Congress; and makes regular appearances on leading radio and television programs.

Read More Show Less

Customer Reviews

Be the first to write a review
( 0 )
Rating Distribution

5 Star

(0)

4 Star

(0)

3 Star

(0)

2 Star

(0)

1 Star

(0)

Your Rating:

Your Name: Create a Pen Name or

Barnes & Noble.com Review Rules

Our reader reviews allow you to share your comments on titles you liked, or didn't, with others. By submitting an online review, you are representing to Barnes & Noble.com that all information contained in your review is original and accurate in all respects, and that the submission of such content by you and the posting of such content by Barnes & Noble.com does not and will not violate the rights of any third party. Please follow the rules below to help ensure that your review can be posted.

Reviews by Our Customers Under the Age of 13

We highly value and respect everyone's opinion concerning the titles we offer. However, we cannot allow persons under the age of 13 to have accounts at BN.com or to post customer reviews. Please see our Terms of Use for more details.

What to exclude from your review:

Please do not write about reviews, commentary, or information posted on the product page. If you see any errors in the information on the product page, please send us an email.

Reviews should not contain any of the following:

  • - HTML tags, profanity, obscenities, vulgarities, or comments that defame anyone
  • - Time-sensitive information such as tour dates, signings, lectures, etc.
  • - Single-word reviews. Other people will read your review to discover why you liked or didn't like the title. Be descriptive.
  • - Comments focusing on the author or that may ruin the ending for others
  • - Phone numbers, addresses, URLs
  • - Pricing and availability information or alternative ordering information
  • - Advertisements or commercial solicitation

Reminder:

  • - By submitting a review, you grant to Barnes & Noble.com and its sublicensees the royalty-free, perpetual, irrevocable right and license to use the review in accordance with the Barnes & Noble.com Terms of Use.
  • - Barnes & Noble.com reserves the right not to post any review -- particularly those that do not follow the terms and conditions of these Rules. Barnes & Noble.com also reserves the right to remove any review at any time without notice.
  • - See Terms of Use for other conditions and disclaimers.
Search for Products You'd Like to Recommend

Recommend other products that relate to your review. Just search for them below and share!

Create a Pen Name

Your Pen Name is your unique identity on BN.com. It will appear on the reviews you write and other website activities. Your Pen Name cannot be edited, changed or deleted once submitted.

 
Your Pen Name can be any combination of alphanumeric characters (plus - and _), and must be at least two characters long.

Continue Anonymously
Sort by: Showing 1 Customer Reviews
  • Posted January 17, 2011

    more from this reviewer

    A sharp critique of the 2008 federal Troubled Asset Relief Program (TARP)

    In his first-person account comparing the 1980s bank crisis to the 2008 financial panic, William M. Isaac excoriates government officials for needlessly stoking fear and costing taxpayers billions of dollars through the Troubled Asset Relief Program (TARP). Isaac, the former head of the Federal Deposit Insurance Corporation (FDIC), navigated that agency through the 1980s bank and thrift debacle, and he voices sharp opinions on the TARP's shortcomings, politicization and mismanagement. His presentation details how the government (read the FDIC) could have prevented this entire systemic mess had it responded as it had in the '80s under his lead. Unfortunately, most of Isaac's remedies are bank-centric and thus gloss over the roles nonbank financial institutions played in the 2008 crisis. He also doesn't acknowledge any of the experts who say TARP ultimately succeeded in many ways. Nonetheless, getAbstract suggests this book for its well-informed treatment of the 2008 crisis in the context of recent bank history.

    Was this review helpful? Yes  No   Report this review
Sort by: Showing 1 Customer Reviews

If you find inappropriate content, please report it to Barnes & Noble
Why is this product inappropriate?
Comments (optional)