Ford Library

Wessel, David. In Fed we trust : Ben Bernanke’s war on the great panic. Crown Business, 2009.

A veteran editor of the Wall Street Journal tells a vivid tale of the people and events surrounding the Great Panic of 2008.

The book opens in September 2008 with the question of what to do about Lehmann Brothers. Federal Reserve Chair Ben Bernanke, a scholar of the Great Depression, is convinced that the economic catastrophe from the 1930’s was the fault of the Federal Reserve. Yet Lehmann is allowed to fail, becoming the largest bankruptcy in U.S. history, and setting off a worldwide financial collapse. According to Wessel, from that moment Bernanke vowed to do whatever it takes to avoid Depression 2.0.

Under Bernanke’s leadership, the Fed spearheads the largest government intervention in 50 years and is directly accountable to no one. This book is a behind-the-scenes look at the recent financial crisis and the Feds unprecedented response, as policymakers play by ear to keep liquidity flowing. This gripping story shows how decisions were made in this key moment in financial history.

© Reviewer: Meg Trauner & Ford Library – Fuqua School of Business.
All rights reserved.

Tags: Finance

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