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Author: Nick Timiraos Publisher: Little, Brown ISBN: 0316273074 Category : Social Science Languages : en Pages : 331
Book Description
The inside story, told with “insight, perspective, and stellar reporting,” of how an unassuming civil servant created trillions of dollars from thin air, combatted a public health crisis, and saved the American economy from a second Great Depression (Alan S. Blinder, former Vice Chair of the Federal Reserve). By February 2020, the U.S. economic expansion had become the longest on record. Unemployment was plumbing half-century lows. Stock markets soared to new highs. One month later, the public health battle against a deadly virus had pushed the economy into the equivalent of a medically induced coma. America’s workplaces—offices, shops, malls, and factories—shuttered. Many of the nation’s largest employers and tens of thousands of small businesses faced ruin. Over 22 million American jobs were lost. The extreme uncertainty led to some of the largest daily drops ever in the stock market. Nick Timiraos, the Wall Street Journal’s chief economics correspondent, draws on extensive interviews to detail the tense meetings, late night phone calls, and crucial video conferences behind the largest, swiftest U.S. economic policy response since World War II. Trillion Dollar Triage goes inside the Federal Reserve, one of the country’s most important and least understood institutions, to chronicle how its plainspoken chairman, Jay Powell, unleashed an unprecedented monetary barrage to keep the economy on life support. With the bleeding stemmed, the Fed faced a new challenge: How to nurture a recovery without unleashing an inflation-fueling, bubble-blowing money bomb? Trillion Dollar Triage is the definitive, gripping history of a creative and unprecedented battle to shield the American economy from the twin threats of a public health disaster and economic crisis. Economic theory and policy will never be the same.
Author: Nick Timiraos Publisher: Little, Brown ISBN: 0316273074 Category : Social Science Languages : en Pages : 331
Book Description
The inside story, told with “insight, perspective, and stellar reporting,” of how an unassuming civil servant created trillions of dollars from thin air, combatted a public health crisis, and saved the American economy from a second Great Depression (Alan S. Blinder, former Vice Chair of the Federal Reserve). By February 2020, the U.S. economic expansion had become the longest on record. Unemployment was plumbing half-century lows. Stock markets soared to new highs. One month later, the public health battle against a deadly virus had pushed the economy into the equivalent of a medically induced coma. America’s workplaces—offices, shops, malls, and factories—shuttered. Many of the nation’s largest employers and tens of thousands of small businesses faced ruin. Over 22 million American jobs were lost. The extreme uncertainty led to some of the largest daily drops ever in the stock market. Nick Timiraos, the Wall Street Journal’s chief economics correspondent, draws on extensive interviews to detail the tense meetings, late night phone calls, and crucial video conferences behind the largest, swiftest U.S. economic policy response since World War II. Trillion Dollar Triage goes inside the Federal Reserve, one of the country’s most important and least understood institutions, to chronicle how its plainspoken chairman, Jay Powell, unleashed an unprecedented monetary barrage to keep the economy on life support. With the bleeding stemmed, the Fed faced a new challenge: How to nurture a recovery without unleashing an inflation-fueling, bubble-blowing money bomb? Trillion Dollar Triage is the definitive, gripping history of a creative and unprecedented battle to shield the American economy from the twin threats of a public health disaster and economic crisis. Economic theory and policy will never be the same.
Author: David Ricketts Publisher: Harriman House Limited ISBN: 0857198661 Category : Business & Economics Languages : en Pages : 140
Book Description
Neil Woodford was the UK’s most celebrated fund manager. Savers who invested £1,000 with him in 1988 saw their money increase to £25,000 over 25 years. At the peak of his career he was managing £33 billion for hundreds of thousands of investors. When he started his own fund management company in 2014, within just a few weeks it had attracted £5bn from his loyal fan base, including some of the City of London’s biggest hitters. Life was good. Away from work he was collecting high-performance supercars and chunky designer watches; he was rarely out of the saddle of his favourite horse. The BBC called him the “man who can’t stop making money”. And then it all came to a sudden stop. This book tells the dramatic untold story behind Woodford’s stunning rise and fall, and reveals why his multi-billion-pound investment empire really collapsed in such an abrupt and catastrophic manner. In a fast-moving and compelling narrative, reporter David Ricketts takes readers inside the rooms where extraordinary sums of other people’s money were wagered, trapped and, ultimately, lost, in a scandal still sending shockwaves through the world of finance. Thanks to unique and unprecedented access to the most important players, we meet an eccentric cast of characters and go inside the institutions involved, from Woodford’s own firm to those that made huge sums endorsing him – as well as those who failed to raise the alarm before it was too late.
Author: John Withington Publisher: Skyhorse Publishing Inc. ISBN: 160239749X Category : History Languages : en Pages : 401
Book Description
Explores numerous environment, biological, and man-mad disasters, from Noah's flood and a hailstorm that killed 246 people to the Black Death and twentieth-century genocides.
Author: John Feffer Publisher: Seven Stories Press ISBN: 9781583226032 Category : History Languages : en Pages : 204
Book Description
The Korean peninsula, divided for more than fifty years, is stuck in a time warp. Millions of troops face one another along the Demilitarized Zone separating communist North Korea and capitalist South Korea. In the early 1990s and again in 2002-2003, the United States and its allies have gone to the brink of war with North Korea. Misinterpretations and misunderstandings are fueling the crisis. "There is no country of comparable significance concerning which so many people are ignorant," American anthropologist Cornelius Osgood said of Korea some time ago. This ignorance may soon have fatal consequences. North Korea, South Korea is a short, accessible book about the history and political complexites of the Korean peninsula, one that explores practical alternatives to the current US policy: alternatives that build on the remarkable and historic path of reconciliation that North and South embarked on in the 1990s and that point the way to eventual reunification.
Author: Dambisa Moyo Publisher: Macmillan ISBN: 0374139563 Category : Business & Economics Languages : en Pages : 209
Book Description
Debunking the current model of international aid promoted by both Hollywood celebrities and policy makers, Moyo offers a bold new road map for financing development of the world's poorest countries.
Author: Dylan Ratigan Publisher: Simon and Schuster ISBN: 1451642245 Category : Political Science Languages : en Pages : 247
Book Description
The host of the eponymous MSNBC show, Dylan Ratigan offers a bold and original post-partisan program to resuscitate the American Dream. At a time of deep concern with the state of America’s economy and government, it seems that all the media can give us is talking (or screaming) heads who revel in partisan brinkmanship. Then there’s Dylan Ratigan—an award-winning journalist respected and admired across the political spectrum. In Greedy Bastards, he rips the lid off of our deeply crooked system—and offers a way out. Employing the nuanced reporting and critical analysis that have earned him so much respect, Ratigan describes the five “vampires” that are sucking the nation dry, including an educational system that values mediocrity above all else; a healthcare system that is among the priciest and least-effective infrastructures in the industrialized world; a political system in which lobbyists write legislation; a “master-slave” relationship with our Chinese bankers; and an addiction to foreign oil that has sapped our willingness to innovate. In offering solutions to these formidable and entrenched obstacles, he does nothing less than lay the groundwork for a political movement dedicated to tackling the rot at the heart of the country. In its desperation, America needs more than just endless stock tips and Wall Street navel-gazing. It needs passionate debate and smart policy—and a hero to take on the establishment. Dylan Ratigan is that hero, and this is the book that will rally people behind him.
Author: Everest Media, Publisher: Everest Media LLC ISBN: 166939204X Category : Business & Economics Languages : en Pages : 54
Book Description
Please note: This is a companion version & not the original book. Sample Book Insights: #1 Jay Powell, who would later become the chairman of the Federal Reserve, was born in Washington D. C. in 1945. His family were among the first Catholics to join the prestigious Chevy Chase Club, where his father was president. He learned from his father how to measure his words carefully. #2 Brady, who had been Reagan's secretary of the Treasury, hired Powell to be his assistant secretary. Powell then called up his old Wall Street law firm, Davis Polk Wardwell, and asked for a hardworking assistant. They recommended a thirty-three-year-old Ivy League lawyer named Randal Quarles. #3 In early 1991, Powell was tasked with dealing with the Bank of New England, a regional bank on the brink of failure as a result of the recent collapse of the commercial and residential real-estate markets. The immediate stakes were not catastrophic, but the basic questions were the same as when a Citigroup or Lehman Brothers was courting insolvency: should the government let market forces wash away poorly managed institutions. #4 In 1991, Powell was tasked with deciding the fate of Wall Street giant Salomon Brothers. The company had been cornering the market for two-year Treasury notes, which they could then force dealers to buy back from them at higher prices.
Author: Paul A Volcker Publisher: Hachette UK ISBN: 154178829X Category : Biography & Autobiography Languages : en Pages : 322
Book Description
The extraordinary life story of the former chairman of the Federal Reserve, whose absolute integrity provides the inspiration we need as our constitutional system and political tradition are being tested to the breaking point. As chairman of the Federal Reserve (1979-1987), Paul Volcker slayed the inflation dragon that was consuming the American economy and restored the world's faith in central bankers. That extraordinary feat was just one pivotal episode in a decades-long career serving six presidents. Told with wit, humor, and down-to-earth erudition, the narrative of Volcker's career illuminates the changes that have taken place in American life, government, and the economy since World War II. He vibrantly illustrates the crises he managed alongside the world's leading politicians, central bankers, and financiers. Yet he first found his model for competent and ethical governance in his father, the town manager of Teaneck, NJ, who instilled Volcker's dedication to absolute integrity and his "three verities" of stable prices, sound finance, and good government.
Author: Robert D. Bullard Publisher: Routledge ISBN: 0429977484 Category : Social Science Languages : en Pages : 216
Book Description
On August 29, 2005, Hurricane Katrina made landfall near New Orleans leaving death and destruction across the Louisiana, Mississippi, and Alabama Gulf Coast counties. The lethargic and inept emergency response that followed exposed institutional flaws, poor planning, and false assumptions that are built into the emergency response and homeland security plans and programs. Questions linger: What went wrong? Can it happen again? Is our government equipped to plan for, mitigate, respond to, and recover from natural and manmade disasters? Can the public trust government response to be fair? Does race matter? Racial disparities exist in disaster response, cleanup, rebuilding, reconstruction, and recovery. Race plays out in natural disaster survivors' ability to rebuild, replace infrastructure, obtain loans, and locate temporary and permanent housing. Generally, low-income and people of color disaster victims spend more time in temporary housing, shelters, trailers, mobile homes, and hotels - and are more vulnerable to permanent displacement. Some 'temporary' homes have not proved to be that temporary. In exploring the geography of vulnerability, this book asks why some communities get left behind economically, spatially, and physically before and after disasters strike.
Author: Nick Timiraos
Author: Nick Timiraos
Author: David Ricketts
Author: Dennis Boyd
Author: John Withington
Author: John Feffer
Author: Dambisa Moyo
Author: Dylan Ratigan
Author: Everest Media,
Author: Paul A Volcker
Author: Robert D. Bullard