In FED We Trust: Ben Bernanke's War on the Great Panic, David Wessel
  • List: $20.00  |  Sale: $14.00
    Club: $10.00
    • Facebook Share
    • Twitter Share
    • Pinterest Share

Details

In FED We Trust: Ben Bernanke's War on the Great Panic

Author: David Wessel

Narrator: Dan Woren

Unabridged: 10 hr 33 min

Format: Digital Audiobook

Publisher: Random House Audio

Published: 08/04/2009

Genre: Business & Economics - Economic History

Synopsis

“Whatever it takes”

That was Federal Reserve Chairman Ben Bernanke’s vow as the worst financial panic in more than fifty years gripped the world and he struggled to avoid the once unthinkable: a repeat of the Great Depression. Brilliant but temperamentally cautious, Bernanke researched and wrote about the causes of the Depression during his career as an academic. Then when thrust into a role as one of the most important people in the world, he was compelled to boldness by circumstances he never anticipated.

The president of the United States can respond instantly to a missile attack with America’s military might, but he cannot respond to a financial crisis with real money unless Congress acts. The Fed chairman can. Bernanke did. Under his leadership the Fed spearheaded the biggest government intervention in more than half a century and effectively became the fourth branch of government, with no direct accountability to the nation’s voters.

Believing that the economic catastrophe of the 1930s was largely the fault of a sluggish and wrongheaded Federal Reserve, Bernanke was determined not to repeat that epic mistake. In this penetrating look inside the most powerful economic institution in the world, David Wessel illuminates its opaque and undemocratic inner workings, while revealing how the Bernanke Fed led the desperate effort to prevent the world’s financial engine from grinding to a halt.

In piecing together the fullest, most authoritative, and alarming picture yet of this decisive moment in our nation’s history, In Fed We Trust answers the most critical questions. Among them:

• What did Bernanke and his team at the Fed know–and what took them by surprise? Which of their actions stretched–or even ripped through–the Fed’s legal authority? Which chilling numbers and indicators made them feel they had no choice?

• What were they thinking at pivotal moments during the race to sell Bear Stearns, the unsuccessful quest to save Lehman Brothers, and the virtual nationalization of AIG, Fannie Mae, and Freddie Mac? What were they saying to one another when, as Bernanke put it to Wessel: “We came very close to Depression 2.0”?

• How well did Bernanke, former treasury secretary Hank Paulson, and then New York Fed president Tim Geithner perform under intense pressure?

• How did the crisis prompt a reappraisal of the once-impregnable reputation of Alan Greenspan?

In Fed We Trust is a breathtaking and singularly perceptive look at a historic episode in American and global economic history.


From the Hardcover edition.

Recommended

Killing the Planet, Rodney Howard-Browne
Killing the Planet
by Rodney Howard-Browne

List: $26.95

Sale: $18.86

Club: $13.47

Narrator: Dan Woren
Published: 12/18/2019

Capital and Ideology, Thomas Piketty
Capital and Ideology
by Thomas Piketty

List: $39.95

Sale: $27.97

Club: $19.97

Narrator: Arthur Goldhammer
Published: 03/10/2020

Too Big to Fail The Inside Story of How Wall Street and Washington Fought to Save the FinancialS ystem---and Themselves, Andrew Ross Sorkin
Too Big to Fail
by Andrew Ross Sorkin

List: $30.00

Sale: $21.00

Club: $15.00

Narrator: William Hughes
Published: 09/22/2009

The Phantom Virus, Rodney Howard-Browne
The Phantom Virus
by Rodney Howard-Browne

List: $26.95

Sale: $18.86

Club: $13.47

Narrator: Christopher Slye
Published: 09/15/2020

The Story of Silver How the White Metal Shaped America and the Modern World, William L. Silber
The Story of Silver
by William L. Silber

List: $19.95

Sale: $13.97

Club: $9.97

Narrator: Jim Meskimen
Published: 02/05/2019

Why Nations Fail The Origins of Power, Prosperity, and Poverty, Daron Acemoglu
Why Nations Fail
by Daron Acemoglu

List: $24.00

Sale: $16.80

Club: $12.00

Narrator: Dan Woren
Published: 03/20/2012

A History of the United States in Five Crashes Stock Market Meltdowns That Defined a Nation, Scott Nations
A History of the United States in Fiv...
by Scott Nations

List: $27.99

Sale: $19.59

Club: $13.99

Narrator: Christopher Grove
Published: 06/13/2017

Dark Towers Deutsche Bank, Donald Trump, and an Epic Trail of Destruction, David Enrich
Dark Towers
by David Enrich

List: $29.99

Sale: $21.00

Club: $14.99

Narrator: BJ Harrison
Published: 02/18/2020

Capitalism Without Capital The Rise of the Intangible Economy, Jonathan Haskel
Capitalism Without Capital
by Jonathan Haskel

List: $19.99

Sale: $13.99

Club: $9.99

Narrator: Derek Perkins
Published: 12/08/2017
{"id":"317767","ean":"9780307713520","abr":"Unabridged","title":"In FED We Trust: Ben Bernanke's War on the Great Panic","subtitle":"Ben Bernanke's War on the Great Panic","author":"David Wessel","rating_average":"0","narrator":"Dan Woren","ubr_id":"317767","abr_id":"0","ubr_price":"20.00","abr_price":"0.00","ubr_memprice":"13.00","abr_memprice":"0.00","ubr_narrator":"Dan Woren","abr_narrator":"","ubr_length":"Unabridged: 10 hr 30 min","abr_length":"Abridged: "}