Posts filed under “Bailout Nation”

USA Today: Best Business Books

USA Today is out with its list of best business books for 2009 — Too Big Too Fail and Bailout Nation top the list.

“After the collapse of Lehman Bros. in September 2008, Federal Reserve Chairman Ben Bernanke, then-Treasury secretary Henry Paulson and then-New York Fed president Timothy Geithner stood on the brink of catastrophe. Their decision not to bail out Lehman set off a near panic among investors and lenders worldwide.

In response, the government implemented a $700 billion bailout and has since adopted a series of rescue measures that put U.S. taxpayers on the hook for a potential $14 trillion, author Barry Ritholtz says.

The panic and the U.S. reaction spawned a wave of books. Money Bookshelf editor Gary H. Rawlins picks some of the better ones. The selection includes books that point the finger at Wall Street firms and their CEOs, that blast the government for excessive bailouts, that assail the U.S. economic policy triumvirate for letting the inflation genie out of the bottle, and that explain arcane financial derivatives and how they acted as viral agents spreading the crisis to the global economy.

Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the Financial System — and Themselves by Andrew Sorkin (Viking Adult, $33). Arguably the definitive history of the banking crisis, a blow-by-blow account of how decisions made on Wall Street and in Washington in the past decade led to the crash of the global financial system.

Bailout Nation: How, Greed and Easy Money Corrupted Wall Street and Shook the World Economy by Barry Ritholtz (Wiley, $25). Explores how the U.S. evolved from a rugged independent nation to a soft Bailout Nation, where financial firms are allowed to self-regulate in good times, but are bailed out by taxpayers in bad times.

Way cool !

>

Source:
Year’s best business books to make sense of financial crisis
Gary Rawlins
USA TODAY, December 21, 2009

http://www.usatoday.com/money/books/2009-12-20-years-best-business-books_N.htm

Category: Bailout Nation, Books

Cash for Clunkers Visualization

Cash for Clunkers – Visualization and Analysis December 9th, 2009 Cash for Clunkers: A Dynamic Map of the Car Allowance Rebate Systems (CARS) from Michael J Bommarito II on Vimeo. Hat tip Paul!

Category: Bailout Nation

Books in My Queue

I have a long list of books waiting to be read — these half dozen, however, are at the top of my list — sitting on a shelf, patiently waiting to be read — or for my next flight: • Carmen M. Reinhart and Kenneth Rogoff, This Time is Different: Eight Centuries of Financial Folly…Read More

Category: Bailout Nation, Books, Markets

Bailout Nation Reviews (So Far)

Here are the full run of reviews of the book:

Mainstream Media Reviews

New York Times:
Rescues Unlimited: Government as Wall Street’s Enabler
By DEVIN LEONARD
NYT, August 2, 2009

http://www.nytimes.com/2009/08/02/business/economy/02shelf.html

Wall Street Journal:
… And Dave Has His Book List
DAVE KANSAS
WSJ, July 26, 2009

http://online.wsj.com/article/SB124856712152681467.html

Bloomberg
Greenspan Flunks Test, Bush Falls Into $15 Trillion Pit: Books
Review by James Pressley
Bloomberg, May 27 2009

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=amoZezYyYwFA

Forbes:
Book Review: Rescue Fatigue
Michael Maiello, 07.16.09, 12:01 AM EDT
Barry Ritholtz’s ”Bailout Nation.”

http://www.forbes.com/2009/07/15/bailout-nation-aig-chrysler-opinions-book-review-barry-ritholtz.html

Asia Times
Named and shamed
Reviewed by Muhammad Cohen

http://www.atimes.com/atimes/Global_Economy/KJ03Dj01.html

Marketwatch:
The roots of ‘Bailout Nation’
Commentary: Ritholtz book dissects crisis and Greenspan
By Howard Gold

http://www.marketwatch.com/story/ritholtz-gets-to-the-roots-of-bailout-nation-2009-08-04

Reuters
Bailout study widens the “Big Picture”
Thu Jun 11, 2009 3:47pm EDT
By Pedro Nicolaci da Costa

http://www.reuters.com/article/ousiv/idUSTRE55A6CK20090611

Miami Herald
Economics stories can be unexciting, but recent books try to keep their readers awake.
RICHARD PACHTER
Miami Herald, Monday, 06.01.09

HTTP://WWW.MIAMIHERALD.COM/BUSINESS/STORY/1074231.HTML

Las Vegas Business Press
Big bailouts a perversion of capitalism, author argues
MATTHEW CROWLEY
October 05, 2009

http://www.lvbusinesspress.com/articles/2009/10/05/news/iq_31501104.txt

The Hindu
Faux capitalists look for the free lunch
D. Murali
September 19, 2009

http://beta.thehindu.com/business/article22388.ece

ABC News
‘Self-Inflicted Damage’: Highlights From ‘Bailout Nation’
New Book From Bailout Critic Barry Ritholtz Takes on Citigroup, Chrysler and More
ALICE GOMSTYN
ABC NEWS Business Unit, May 27, 2009

http://abcnews.go.com/Business/Economy/story?id=7681437&page=1

See also First Amendment Award for Outstanding Journalism: Best Book Bailout Nation

Blog Reviews:
Read More

Category: Apprenticed Investor, Bailout Nation, Books

$15,000 Home Buyers Credit Costs $292,000/home

I have long argued that home prices are elevated, and until they normalize, the economy will be stuck in the doldrums. I even wrote a chapter of Bailout Nation, titled “The Virtue of Foreclosure.” I make a basic economic argument that the excess credit of the 2001-07 era is unwinding, and foreclosures are part of…Read More

Category: Bailout Nation, Bailouts, Credit, Real Estate

Investment Book of the Year

> Every year, Stock Traders Almanac selects what they determine to be the best investment books of the previous year, plus their selection for the top pick. I am both grateful and humbled by their for the 2010 edition selection of Bailout Nation as “Investment Book of the Year.” More here . . . >

Category: Bailout Nation

Stock Traders Almanac Investment Book of the Year

I am both grateful and humbled by the selection of Bailout Nation as Stock Traders Almanac Investment Book of the Year. Below is the PDF page from the 2010 edition, written by Jeff Hirsch: > 2010 Best Book > And at Amazon.com

Category: Bailout Nation, Books

Correcting a Review of Bailout Nation

There was a nice review Monday in the Las Vegas Business Press that, unfortunately, had one significant error. (I don’t mean something I disagree with, I mean a factual mistake). I wrote the reviewer thanking him for “the kind words about Bailout Nation” — but gently noted this small correction in the review regarding “Who…Read More

Category: Bailout Nation

Asia Times Review of Bailout Nation

Terrific book review for Bailout Nation in Asia Times: “For the past three decades, finance replaced doctor or lawyer as the smart career choice. The cleverest people gravitated to business schools and then to Wall Street, some detouring to Silicon Valley during the dot-com boom. So how did these masters of the universe create the…Read More

Category: Bailout Nation, Books

Faux capitalists look for the free lunch

Bailout Nation gets reviewed in India! > The Hindu : Faux capitalists look for the free lunch The US President Barack Obama, despite being articulate, is allowing his team to sound like philosophers and researchers when they explain what is going on in the marketplace and what the business plan is to fix it, rues…Read More

Category: Bailout Nation, Books