Summary

A riveting indictment of those responsible for our current financial mess Bailout Nation offers one of the clearest looks at the financial lenders, regulators, and politicians responsible for the financial crisis of 2008. Written by Barry Ritholtz, one of today's most popular economic bloggers and a well-established industry pundit, this book skillfully explores how the United States 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.
Entertaining and informative, this book clearly shows you how years of trying to control the economy with easy money has finally caught up with the federal government and how its practice of repeatedly rescuing Wall Street has come back to bite them.


The definitive book on the financial crisis of 2008

Names the villains responsible for this tragedy-from financial regulators to politicians

Shows how each bailout throughout modern history has impacted what happened in the future

Examines why the consumer/taxpayer is left suffering in an economy of bubbles, bailouts, and possible inflationScathing, but fair, Bailout Nation is a voice of reason in these uncertain economic times.
©2009 Barry Ritholtz (P)2009 Audible, Inc.
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Customer Reviews

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4 out of 5 stars
By Philo on 03-11-12

Crony capitalism unveiled

I have read probably 20 "great recession" books, and this is one of the better ones, though it came out in 2009 or so. It is well-told, well-edited, easy to listen to. This is a critique of the evolution of our economy and particularly the financial services sector from a smaller number of risk-taking owner-managers to today's sort of diffuse, ad hoc-governed, crony insurance system. (This is embodied perfectly in the odyssey of Robert Rubin from Goldman Sachs to the US Treasury to Citi; and of course the purportedly anti-government but utterly ham-handed governmental interventions of Mr Greenspan.) Democrats and Republicans both come in for a skewering. The book follows the gradual multi-decade drift of businesses and other institutions (like the Fed, Congress and the Presidency) into ever-more interlinked circles of privileged influence, into such a configuration that, in 2008, the Fed wound up jumping to wakefulness and leaping in awkwardly to "catch falling knives" being the finances of various mismanaged institutions (that were well-enough connected to the Fed).
The wisdom of hindsight is of course always nice, and I still await some working plan in our ultra-complex world economy to replace the mess that happened here (with a skeptical eye on 2010's Dodd-Frank). Maybe this author can give us a sequel? The US does seem bad, until anybody scrutinizes a lot of other systems. The whole thing still seems marbled through with incredibly misallocated resources and risk. The picture painted as of 2009 is still very instructive, and gets us ready to try to understand whatever is next. The captains of government seem only marginally more competent now than they were in that benighted era (not good enough!), and a lot of flaws pointed out in this book are very much with us.

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5 out of 5 stars
By snapea hater on 13-01-16

Strong takes and food for thought.

Where does Bailout Nation rank among all the audiobooks you’ve listened to so far?

Top 10

Any additional comments?

Quite the tour de force of an audio book. I recommend a second listen as the 9 hours is really packed with critical thoughts that should be understood. Whether you end up agreeing fully with Mr. Ritholtz, or not, this one gives you much intellectual curd to chew on.

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