In “After the Music Stopped,” Alan Blinder reveals the abuses that led to the financial crisis and the remedies. Today’s edition brings us to Alan Blinder’s “After the Music Stopped,” a major analysis of the financial crisis and subsequent response by central. After the Music Stopped has ratings and reviews. Alan Blinder explores in depth the role of the fed and treasury in getting the us economy out of the.

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Bought the book, unpacked it and noticed the endorsement from Bill Clinton on the cover.

After the Music Stopped: The Financial Crisis, the Response, and the Work Ahead by Alan S. Blinder

If there is no room for backseat drivers, and that’s very much the tone of the book, leave him alone. He does not offer a view of where we’d be without Lehman, of whether it was one of many accidents waiting to happen or the one key we’d blnder to turn to avoid the crisis which is a commonly held view of the establishment. Hardcoverpages.

And it goes catty too. Return to Book Page. What institution got hurt when, how the authorities responded, what worked, what didn’t, and all of it as if you were in the control room. How can one tell how successful it has been in accomplishing its sfter Bush administration also became more indebted by cutting its tax revenue and then borrowing to finance its rising expenditures, primarily the wars in Iraq and Afghanistan.

He and the administration failed to explain adequately what they were doing and as a result allowed the Tea Party and Republicans define issues like bailouts, deficits and austerity. Alan Binder’s book has something to make everyone angry, from the far left to the far right.

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After the Music Stopped: The Financial Crisis, the Response, and the Work Ahead

A good way to read this book would be to read directly after The Big Short – Michael Lewi Blinder writes conversationally; the book reads smoothly. Even the economics were more debatable than Blinder lets on — and the politics far, far worse. After the Music Stopped is a lay person’s guide to the financial crisis of which carefully explains the economical context before the crash, the panic ofthe response of the United States government and why they made the decisions they did.


Figuring out how to respond – and provide evidence of the response – is another arguably more difficult problem.

Government debt was heavily enabled by foreigners willing to buy safe US Treasury bonds. What a tale — a Shakespearean tragedy.

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Follow Blog via Email Enter your email address to follow this blog and receive notifications of new posts by email. Though not all of Blinder’s arguments are persuasive — he buys into the spurious argument that President Obama “didn’t focus” on the economy, as if major additional stimulus were actually politically possible after February ! The end wanders through the eurozone crisis, next steps for the Fed, and takeaways for policy makers that are noteworthy but not nearly as compelling as his analysis of the crisis.

And to an amazing – and certainly misunderstood – extent, they worked. Blinder regrets that public office holders did not take more time to explain the actions they did, and tries to place the decisions within the context of American politics at the time. If you’re looking for a book to introduce you to what happened inlook no further.

After the Music Stopped | Beneath the Surface

The large supply of domestic and foreign capital available for lending made it hard for lenders to command a high-interest return. Extreme Money Satyajit Das. Because so much of the financial system was built upon a number of these risky financial practices, it was a catastrophe that spread like wildfire from the Wall Street to Main Street.

Throughout the book Blinder comes across as very informed and readers would appreciate the time he takes to explain many financial terms and systems that they would otherwise not know.

Blinder reveals himself to be a Democrat, is quick to point out the partisan or personal interests of various players who weighed in on the crisis, and generally has mostly blame and a bit of credit for all ends of the spectrum, from Democratic and Republican appointees to libertarians and democratic socialists and those in between.


Rather, it speaks to what appears to be Blinder’s real ambition, which dovetails with that of his publisher: But in that context it is very dissonant to hear him repeatedly pan Larry Summers. It goes over the territory covered by other accounts, while bringing the crisis and recovery up to date. If you want to understand monetary and fiscal policy in the face of financial Armageddon, this is a must-read.

Not only does this book do that, but with its blend of wry humor and outright snark the author kept it fun and surprisingly riveting along the way. Subprime housing loans that could be repackaged as safe-looking investments thrived in that environment. There are extensive tables to help you track the reforms.

Both are perceived as giveaways to banks, which they were not. Buyers of the riskiest tranches had to absorb more of the losses from any defaults in the pool, while buyers of the safest tranches would only be hurt if the rate of default reached a very high level.

Blinder blames regulatory failures, noting the positions of Alan Greenspan and the Bush-era administrators at the An excellent reference on the first recession of the 21st Century.

To see what your friends thought of this book, please sign up. Feb 12, Andrew rated it it was amazing. I’m better off for having read it, though, and I have not found a better one. Nov 26, Lace Lofranco rated it it was amazing. The major regulatory agencies mostly looked the other way as banks and mortgage brokers became increasingly binder, pushing riskier loans to borrowers with shaky credit.