On the Brink HARDCOVER |
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| Title: | On the Brink HARDCOVER |
| Author: | |
| Publisher: | Business Plus |
| Type: | Book / Hardcover |
| Publication Date: | , |
| ISBN / ISBN-13: | 0755360540 / 9780755360543 |
| List Price: | |
| Amazon Price: | $17.36 (via Amazon marketplace seller) |
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Editorial Review / Publisher's Information:
[ Unable to obtain editorial review or publisher's summary at present ]
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Customer Reviews:
• A Lay Person's Perspective
14 June, 2010
As many retired professionals living on the proceeds of investment income, the financial crisis of 2008 had my wife and I reeling with anxiety. Within a matter of months our carefully invested savings in mutual funds, and our investment in our home fell in net asset value by over forty percent. Henry Paulson as Secretary of the Treasury was at the epicenter of the crisis. He and just a few others at the top of government were the only ones in a position to stop a financial collapse that could have equaled the Great Depression in severity. In the end, giant commercial and investment banks failed, trillions of dollars in asset evaporated, and millions of people lost their jobs, homes, and careers. But, and it's a big but, it could have been much worse had it not been for Paulson and those other few that had the courage and wisdom to make very hard decisions while working nonstop, 24/7, for months.
As this is written in 2010 the worst seems to be over and the economy seems to have stabilized. Yet we are far from out of the woods. Unemployment remains at just under ten percent, home foreclosures are still high, and many Americans are having a tough time getting by. Most shocking of all, regulatory reform of the financial markets to prevent it from happening again is still stuck in the political quagmire of the United States Senate, with hundreds of millions of dollars being spent by financial institution lobbyists to prevent meaningful legislation.
If there's a criticism of On The Brink it's that no regulatory solutions are offered. One would think that Mr. Paulson, who has spent a lifetime in financial risk management, could have more to say. Many of us would like to hear his views now. Facing Fascism: The Threat to American Democracy in the 21st Century
- Amazon Customer Review
• On The Brink
18 June, 2010
This is a very detailed chronology on the financial collapse that began in 2006-2007. Mr. Paulson presents in an orderly fashion the troubles that erupted with each financial institution and how it affected the remaining intsitutions. He and the Fed staved off a true collapse with their actions.
- Amazon Customer Review
• Eye Opening Shows How Politics Almost Let The Financial System Fail
19 July, 2010
Many will question his motives by those who least understand the gravity of the situation. A Republican president George Bush, along with his Treasury Secretary knew that the right course of action was to save the financial system. The biggest obstacle was their own party. The House Republicans were willing to put ideology ahead of what was best for the country. This is coming from Paulson himself not some liberal media source.
What I found most fascinating was the John Boehner knew the gravity of the situation and was working with Nancy Pelosi to pass this bill. I think it goes to show that leadership is more important than populism. All the people out their who believe that these institutions should have failed are just inept at understanding the gravity of the situation. They will sight well you don't know but past history shows what happens during financial crisis of this magnitude. Look at the crisis of 1872 and the aftermath was a 12 yr depression. Also, the Great Depression is another example. George Bush did the right for once and ignored the stupid elements in his own party.
Funny Paulson had very little positive things to say about McCain. In fact he criticized McCain for using the bailouts as a political tool. This is from a Republican Treasury Secretary not Limbaugh, Levin or the other ass clowns people flock too.
- Amazon Customer Review
• A Lay Man's Perspective
23 June, 2010
Very boring book. Only academics, economists or people involved in finance would appreciate the amount of detail written in this book.
For the lay person, go read a sci-fi or fantasy book.
- Amazon Customer Review
• Yawn And You'll Miss It
29 June, 2010
If you're looking for a book that details page by page - day by day the events building up to the global credit crisis and subsequent recession read this.
Say what you want about Paulson, he obviously has a head for dates and numbers. Unfortunately: literary skills - Not so much.
On The Brink can't seem to make up its mind whether it's an autobiography, political polemic or factual work. Ultimately the mish-mash comes out as an apologetic piece which seems more about Paulson trying to prove himself to critics. He even provides an exemplar of one of his 12+ hour days.
I have absolutely no doubt that this man worked his butt off during this difficult time but that's no excuse for writing a confusing non-fiction work which is impossible to discern between memoir and text-book.
Overall the most interesting parts are where Paulson discussing his interactions with the two presidential candidates during 2008, however the lack of any philosophising (usually you can't get people to stop once they start writing on the subject) or extrapolation past `what we did in response to this crisis' makes On the Brink an extremely dull read. Perhaps Paulson thought it would broaden the appeal of his work if he didn't get into too much discussion but personally I would prefer to read a work that I disagreed with then one that bored me to sleep.
- Amazon Customer Review
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