In “After the Music Stopped,” Alan Blinder reveals the abuses that led to the financial crisis and the remedies. Today’s edition brings us to Alan Blinder’s “After the Music Stopped,” a major analysis of the financial crisis and subsequent response by central. After the Music Stopped has ratings and reviews. Alan Blinder explores in depth the role of the fed and treasury in getting the us economy out of the.
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It was remarkably timely, including post-election November insights. Blinder’s writing style is sometimes a little too colloquial for my tastes, blnder the information is excellent and reputable.
After the Music Stopped: The Financial Crisis, the Response, and the Work Ahead
This is a commendable and worthwhile effort, one that his colleague Paul Krugman has been pursuing as well. The end wanders thro The is the most accessible narrative I have yet to read about the crisis afher it’s after effects.
The end wanders through the eurozone crisis, next steps for the Fed, and takeaways for policy makers that are noteworthy but not nearly as compelling as his analysis of the crisis.
Jul 15, Connor rated it really liked it. Blinder describes complicated concepts very clearly. True, Bernanke did perform heroically, particularly after the decision stoppex to save Lehman Brothers, which Blinder pins on Treasury Secretary Henry Paulsen, who he views as a Wall Street bounder out of his depths in policy-land.
The moon is not made of cheese. After the Music Stopped is an essential history that we cannot afford to forget, because one thing history teaches is that it will happen again. Blinder describes what led to the financial crisis, how key people in the Bush and Obama administrations and the Fed avter, legislation that resulted and the Europe crisis.
When it comes to the section where professor Blinder gives his ideas on what steps were needed to prevent a complete financial meltdown and a second Great Depression I feel that I must give him a “2”. He does not attempt to tell us if the victory was Pyrrhic or decisive. When it stooped to the housing bubble, the way he puts it “the enemy stoppde us.
People neck deep and sinking deeper in this mess condescended to the American people by telling them they were not smart enough to understand the financial system and thus must remain captives to the over-payed fools who blinver the mess in the first place. Figuring out how to respond – and provide evidence of the response – is another arguably more difficult problem.
This hard-hitting expose will be close to home for most people – after all, no matter how poor or how wealthy we may find ourselves, we’re all still affected by the Financial Crisis in all kinds of little ways.
You find out where it started, what’s in it, how it got there and what’s left open. In both cases he is skeptical that politicians will be able to take the actions necessary to clear up core structural problems in finance. There are no discussion topics on this book yet.
The second half of the book essentially changes gears I think adding a thoughtful analysis of what has been done, has This is as good of a work as any to date in putting many of the events that led to The Great Recession into common parlance as any I’ve seen thus far. This is one of the very best books on the financial crisis that has been written to date. From Kaletsky to Krugman, from Stiglitz to Shiller, and what they all have in common is an angle; an axe to grind.
Blinderesteemed Princeton professor, Wall Street Journal columnist, and former vice chairman of the Federal Reserve Board, held off, taking the time to understand the crisis and to think his way through to a truly comprehensive and coherent narrative of how the worst economic crisis in postwar American history happened, what the government did to fight it, and what we can do from here – mired as we still are in its wreckage.
Instead it takes an economist’s view of the whole economy to assess where things were out of balance. I’ve always appreciated writing that successfully explains complex issues in digestible ways without dumbing things down.
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The financial crisis was truly terrifying and this book explores it in depth and length. A good way to read this book would be to read directly after The Big Short – Michael Lewi Blinder writes conversationally; the book reads smoothly.
After the Music Stopped is a lay person’s guide to the financial crisis of which carefully explains the economical context before the crash, the panic ofthe response of the United States government and why they made the decisions they did. The account is straight and plain, it has a beginning and an end, it’s balanced and it never attempts to over-reach. Third, the book is exquisitely written. If you want to understand monetary and fiscal policy in the face of financial Armageddon, this is a must-read.
Insurance companies like AIG made huge bets that housing defaults would remain low when they agreed to protect financial firms from losses on mortgage-backed securities.
He does not ask where we’re left, other than to refer to issues everybody with a pulse knows about, like the future costs of Medicare and the need blinfer both lower spending and higher taxes in the future, but lax fiscal policy now. All things considered, the book moves along pretty quickly while also managing to be thorough. View all 7 comments. Dec 10, Marks54 rated it it was amazing.
He addresses three key questions:.
After the Music Stopped: The Financial Crisis, the Response, and the Work Ahead by Alan S. Blinder
Nevertheless a good book about what happened. The worst did not happen. This site uses Akismet to reduce spam. Anyway a great educational book.
I think Gillian Tett’s Fools Gold is the one. I think people are likely still going to scratch their heads as to how over banks got themselves into so many bad loans. The demand for dollars remained high tbe so much because foreigners used them to buy our products, but because they used them to invest in American securities they considered safe.
He served on the Federal Open Market Committee This is a good, even-handed synopsis of the financial crisis of and the political response that occurred in the years that followed.