Too Big to Fail, by Andrew Ross Sorkin

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I think it’s a little too early to really understand the history, and certainly the implications, of the financial crisis that we’ve all been going through over the past 2 years. But I’m quite interested in the actual people who were (and are) involved, and understanding the decisions they made, and as much as I can about how those decisions felt to them.

Sorkin’s book is very useful in that regard — he clearly had outstanding access to most of the important players, and a good sense of the relationships between them. The book is a little bit too long, I think, and reads a little like a breathy soap opera in places, but seems to me that it will be the definitive contemporary accounting of the events of 2007 and 2008, if not the definitive history.

If you’re interested in this subject at all, I’d highly recommend the book — it caused me to have a number of “a ha!” moments and helped my understanding of the system. It’s also created a bit of contempt in me for the bankers and policy makers who were involved — but it’s only one accounting, so I’m inclined to learn a lot more.

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