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A Memoir of a Crisis and Its Aftermath
W.W. Norton
October 2015
On Sale: October 5, 2015
624 pages
ISBN: 039324721X
EAN: 9780393247213
Kindle: B00TIZFP0I
Hardcover / e-Book
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Non-Fiction Memoir
An unrivaled look at the fight to save the American economy. In 2006, Ben S. Bernanke was appointed chair of the Federal
Reserve, the unexpected apex of a personal journey from
small-town South Carolina to prestigious academic
appointments and finally public service in Washington’s
halls of power. There would be no time to celebrate. The bursting of a housing bubble in 2007 exposed the hidden
vulnerabilities of the global financial system, bringing it
to the brink of meltdown. From the implosion of the
investment bank Bear Stearns to the unprecedented bailout of
insurance giant AIG, efforts to arrest the financial
contagion consumed Bernanke and his team at the Fed. Around
the clock, they fought the crisis with every tool at their
disposal to keep the United States and world economies afloat. Working with two U.S. presidents, and under fire from a
fractious Congress and a public incensed by behavior on Wall
Street, the Fed—alongside colleagues in the Treasury
Department—successfully stabilized a teetering financial
system. With creativity and decisiveness, they prevented an
economic collapse of unimaginable scale and went on to craft
the unorthodox programs that would help revive the U.S.
economy and become the model for other countries. Rich with detail of the decision-making process in
Washington and indelible portraits of the major players,
The Courage to Act recounts and explains the worst
financial crisis and economic slump in America since the
Great Depression, providing an insider’s account of the
policy response.
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