Sorkin: This Is One of the Most Remarkable Times In Our Financial History
Last September 2008, Ben Bernanke and Hank Paulson devised and implemented a plan to save the financial system as we know it; the plan would bailout the banks and made the tax payer the principal owner. NY Times Journalist Andrew Sorkin, Author of Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the Financial System and Themselves told John Gambling that he thinks that things are better now than they were then; in 2008 we were staring into the abyss at the brink of a melt down. Today, things are a bit better however now there is a vast disconnect and paradox with the economy. In the coming months, Sorkin says there will be a real discussion about whether or not the U.S. is really recovering - this question comes as there are double digit unemployment numbers with no relief coming any time soon. The question really is, if we truly are recovering how can there still be these problems like with Unemployment? In September 2008, Sorkin says that what people do not realize is that this wasn't just about Wall Street falling; Bernanke, Paulson and Geithner were talking about American Icons like General Electric falling as well. This is one of the most remarkable times in our financial history according to Sorkin.
In the book, Sorkin tackles the financial meltdown on a number of frotns: From the collapse of Bear Stearns to the federal bailouts of Fannie Mae and Freddie Mac to the demise of Lehman Brothers and the controversial rescue of insurance giant AIG, Sorkin explores the various characters and their interweaving — and sometimes duplicitous — relationships to help explain how decisions were often made as much to save the financial system as they were to save themselves.
In a previous blog, “A Runners Wife” I spoke about my husband training for the NYC marathon. All I have to say is that the months of training all came together of an amazing race. Race day is a grueling day for runners, and the family. But a miracle happened...
U.S. Attorney General Eric Holder testified before the senate judiciary committee and basically shrugged when asked if any other enemy combatant captured overseas had ever been brought to civilian criminal court to face justice. Talk about an incompetent boob, not to mention a disgrace.
Here is a list of wines all from Spain, and menus from restaurants in Brooklyn where a crew of us did a food / wine crawl through Carrol Gardens and Williamsburg recently
E-Mail Story
Print Story
