Monday, November 19, 2012

Review Of Sheila Bair's Book On Government's Role In Financial Crisis

James Galbraith's short review of Bull By The Horn, written by Sheila Bair, focuses on the role that Timothy Geithner played during the rescue of the Wall Street banks,  and in the aftermath when reforms were being crafted.  Geithner's mission was to restore Wall Street to what it was before it self destructed.  He was also fixated on doing whatever he could for Citigroup, and his mentor Robert Rubin, who had been Vice Chairman of Citigroup, and led its efforts to become the bank most badly damaged by poor management.   

I strongly recommend Blair's book to anyone who is interested in the politics of the rescue and the politics that shaped Dodd-Frank and other reforms.  I had read many of the books that have been published on these topics, and I learned more from Blair's book than from any of the others.  She provides details on what took place, that could only have come from someone who was in involved in most of the battles.  I plan to describe some of the details in future posts. 

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