Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the Financial System—and Themselves by Andrew Ross Sorkin. Viking 2009.
Too Big to Fail is a riveting, detailed account of the recent financial crisis from major players involved—the top tier people from the Fed, the Treasury, and the financial firms—by celebrated New York Times reporter, Andrew Ross Sorkin. With an incredible amount of access, Sorkin has recreated the conversations and participants’ personal thoughts from 500 hours of interviews with 200 individuals.
The reader is right there with a highly experienced group under severe stress, scrambling to prevent global economic meltdown and some of their firms from going over the edge. As the author says, “in the end, whether an institution or the entire system is too big to fail has as much to do with the people that run these firms and those that regulate them as it does any policy or written rules.” Too Big to Fail is the authoritative book on the financial crisis and will be studied for many years to come.
