Reddit reviews Stress Test: Reflections on Financial Crises
We found 5 Reddit comments about Stress Test: Reflections on Financial Crises. Here are the top ones, ranked by their Reddit score.
Cornerstone
I can recommend quite a few. I wrote the FAQ on the "Causes of the Crisis" in the sidebar: https://www.reddit.com/r/Economics/wiki/faq_financial_crisis
There are so many books about this topic. I will list a few that I have personally bought:
Books that look at the "big picture"
Books that are a "blow by blow" accounnt:
This small list only begins to scratch the surface of the voluminous literature that exists on this topic. It's a good start.
All of these books are accessible to laypeople.
I recommend this book.
Yes. Bush and Obama helped save the world economy. Both.
https://www.politico.com/story/2013/09/who-really-fixed-the-financial-crisis-096794
http://time.com/money/4176949/who-really-dug-us-out-of-the-great-recession/
Tim Geithners book talks about it too: https://www.amazon.com/Stress-Test-Reflections-Financial-Crises/dp/0804138613
But if you're trying to blame the debt going up sorely on some kind of policy of Obama's doing and not related at all to the 08 crash, that's utterly moronic, so please don't do that.
I meant the sharpest form of political power of the WB is not through its development loans, but through IMF-backed sovereign bailouts (when sovereign states default on foreign currency debt). IMF and WB are formally separate but are in fact very tightly coordinated.
AIIB-type proposals have been floating around for a while, especially in the wake of the 1997 Asian financial crisis. The U.S. has reason to support the AIIB, as foreign debt defaults puts the U.S. financial system at great risk. However, the Treasury has long felt that the amount of political leverage the IMF (being a U.S.-dominated institution) gave it in the affairs of foreign countries outweighed the risks a single-lender system presented.
This is the book: http://www.amazon.com/Stress-Test-Reflections-Financial-Crises/dp/0804138613
Fine, apologies for my snark and sometimes rudeness. I stand by the point that on the one hand, lay people shouldn't even try to form opinions on what they don't know. This leads to people who read the news and support anti-vaccines, or people who read the news and then support Brexit, only to protest it later, or people who read the news and pressure lawmakers into avoiding TARP bailouts, only to change their tune literally days later after seeing the consequence (this is a reference to TARP legislation actually failing originally in the House on Sep 29 2008, and was literally passed two days later once the public and lawmakers saw the consequences of what they did, this is my favorite example of people changing their tune once they realize they don't know what they're doing). Then there's people who read the news and self diagnose before going into the doctor's office ... every doctor hates that.
But on the other hand, everyone is free to choose their hobbies and casual interests, and some baseline level of knowledge is fair to strive for, so maybe I should get off my high horse and stop dissuading you from that. If you treat the news more skeptically as a source of "info" in the future I'll call it a win.
One casual source I like that covers the crisis is here, this is written by the President of the NY Fed at the time, who later became US Secretary of Treasury.
If you want a little more technical source to read I'd recommend this, written by an economist who is well known for studying the crisis.
Aside from the crisis if you want economic news in general, for god's sake avoid media outlets. Here is a good source of ongoing commentary from the Fed that will cover both technical and layperson material, you can filter as you like.
I'll let you have the last word, sorry again if I was rude.