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Norton, W. W. & Company, Inc.
The Courage to Act: A Memoir of a Crisis and Its Aftermath

The Courage to Act: A Memoir of a Crisis and Its Aftermath

by Ben S. Bernanke
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Ben S. Bernanke’s rise to chair of the Fed, the massive financial crisis, and the Fed’s bold and effective response.In 2006, Ben S. Bernanke was appointed chair of the Federal Reserve, capping a meteoric trajectory from a rural South Carolina childhood to professorships at Stanford and Princeton, to public service in Washington’s halls of power. There would be no time to celebrate, however—the burst of the housing bubble in 2007 set off a domino effect that would bring the global financial system to the brink of meltdown.In The Courage to Act, Bernanke pulls back the curtain on his efforts to prevent a mass economic failure, working with two U.S. presidents and using every Fed capability, no matter how arcane, to keep the U.S. economy afloat. His experiences during the initial crisis and the Great Recession that followed give readers an unequaled perspective on the American economy since 2006, and his narrative will reveal for the first time how the creativity and decisiveness of a few key leaders prevented an economic collapse of unimaginable scale.

Product Details

ISBN-13: 9780393247213
Publisher: Norton, W. W. & Company, Inc.
Publication date: 10/05/2015
Pages: 624
Sales rank: 306,549
Product dimensions: 6.30(w) x 9.40(h) x 2.10(d)

About the Author

Ben S. Bernankeserved as chairman of the Federal
Reserve from 2006 to 2014. He was named Time magazine’s
Person of the Year in 2009 and was a professor of economics at Princeton University prior to his career in public service.

Table of Contents

Author's Note vii

Prologue I Can Still Stop This … ix

Part I Prelude

Chapter 1 Main Street 3

Chapter 2 In the Groves of Academe 21

Chapter 3 Governor 43

Chapter 4 In the Maestro's Orchestra 66

Chapter 5 The Subprime Spark 82

Chapter 6 Rookie Season 107

Part II The Crisis

Chapter 7 First Tremors, First Response 133

Chapter 8 One Step Forward 159

Chapter 9 The End of the Beginning 176

Chapter 10 Bear Stearns: Before Asia Opens 198

Chapter 11 Fannie and Freddie: A Long, Hot Summer 226

Chapter 12 Lehman: The Dam Breaks 248

Chapter 13 AIG: "It Makes Me Angry" 270

Chapter 14 We Turn to Congress 292

Chapter 15 "Fifty Percent Hell No" 314

Chapter 16 A Cold Wind 336

Chapter 17 Transition 356

Chapter 18 From Financial Crisis to Economic Crisis 385

Part III Aftermath

Chapter 19 Quantitative Easing: The End of Orthodoxy 415

Chapter 20 Building a New Financial System 435

Chapter 21 QE2: False Dawn 467

Chapter 22 Headwinds 497

Chapter 23 Taper Capers 534

Epilogue: Looking Back, Looking Forward 565

Afterword to the Paperback Edition 581

Acknowledgments 595

A Note On Sources 599

Selected Bibliography 603

Index 605

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The Courage to Act: A Memoir of a Crisis and Its Aftermath 3 out of 5 based on 0 ratings. 2 reviews.
naveensreedevan More than 1 year ago
Ben Bernanke a third rate fellow. Bankers came about after Abe lincoln was killed. Abe's wife reportedly screamed "it is that House" house being the name of the banker who was doing dong the hardsell as America will galvanize the FEderal/IMF scam as we know it today. HAd Lincoln surivived there wont be a fed. A few decades after ABe lincoln died the conspirators JP morgan, rockefeller and few other leprosy dogs met in some island and then got the fed reserve act doc published away from the main land. Such blaggards should get true justice. -foreward from ben bernanke- i enjoy walking in this winter wonder land in the winter we dream about lootin In this manner we can create inflation till the other dogs starts barking When it is snows it is fillin in the cooler there is beer, it is chilling aint our life and this job so thrilling to the taxpayers we are billing and we call it climate change tax later on, me and thug obama will sit by the fire then we will conspire gone away is the blue bird in its place is the grizzly bear we will have lots of fun with toxic assetman of goldman sachs
Anonymous More than 1 year ago