Stress Test: Reflections on Financial Crises

Very well written, candid and thoughtful. An examination of the crisis and events leading up to it, this book gives a unique perspective on the Great Recession from an inside perspective. Strongly recommend to anybody interested in learning more about crisis management or curious about 2008.

Timothy Geithner writes a a historically honest account of what happened between 2007 and 2013. He chides himself for being too naive at times but his guidance and wisdom wins out over time. He is a "Liberal Republican" whose account of how nearly our country was to the abyss of financial disaster and ruin is compelling and gripping. The intransigence of the do-nothing Republican Party is especially revealing. If Geithner et al had not done what they did, we would be in Depression Part 2 at this point in time. For those who think the Tea Party and their derision towards OUR president has done any good, we need to rid ourselves of these morons and elect leaders who will compromise and attempt to heal the wounds created by GW Bush and Cheney who set our country on a course that would end only in disaster. In other words...let us get rid of the Ted Crazies in our country.

If you want to really understand the financial crisis the U.S. faced in 2008 this is the book. He CLEARLY explains the conditions, what had to be done, what was attempted and what was not, what worked and what did not, what greased the wheels and what presented insurmountable obstacles. Most of all, I was hit over the head with the complexity of both the crisis and the solutions. Each action proposed had to be examined for its potential effects on a number of other things, and how the action would be perceived by the investment and business communities. Before reading the book, I knew Tim Geithner was smart. After reading it, I realized how fortunate the U.S. was to have him in a key position. He gave plenty of credit to others on the team that foiled a world-wide depression.

Amazing insight into the people pulling the strings during the devastating financial crisis of 2008. It is intriguing to see how confidence in the country and its people remained true even through the hardest times. An inspiring book for anyone who wishes to make an impact.

A very interesting account by Geithner of his experience in the New York Fed and in the Treasury dept. during the crisis times of our economy. He explains complex ideas clearly in an easy-reading book.

"Stress Test" changed my opinion of Tim Geithner 180 degrees. This man was a giant among many great men. Thank god he held his own when everyone was against him. Just a plain man doing his job and what a job he did. If anyone deserves the medal of honor it's Geithner.

Very well written and comprehensive. Forewarned: it is fairly rechnical, and if you aren't fluent in Bankspeak it may be burdensome, even seem obfuscational. Best of the Great Recession chronologies I have read.

As a conservative economic adherent, I was skeptical of the justifications Geithner would use to justify his actions. I came away in awe of the magnitude of the challenges he faced and the actions he took.

Tim Geithner's book "Stress Test" is a page turner and it will have you hooked. If you want to understand the magnitude of the second worst financial crisis in our history, a crisis that almost crashed our economy, if you want to realize how close we came to the abyss and what the consequences would have been, if you want to understand what exactly was done, by whom, and how what they did managed to avert the worst consequences, this book is a must read. It is a glimpse on how three men, Hank Paulson and later Tim Geithner at Treasury, and Ben Bernanke at the Fed, and their colleagues, worked around the clock for years to protect the entire world from a financial catastrophe that would have sunk the world economy far deeper than we experienced. It is a testament to their courage and resilience to push for strategies that were generally misunderstood by Congress, by the press, and the public. As Geithner describes it, they had to choose the best of the worst solutions. It is a testament to their intelligence and their guts that they did the counter-intuitive thing in the situation, knowing it wouldn't be viewed as the right thing by the banks, Main Street, Republicans and Democrats in congress and by the public, and that they would pay a huge political price. It is a testament to the courage of President Obama to have stood behind his Treasury Secretary when everyone else was against him, and to give him the room to do what was right rather that what was political expedient.

The book also provides insights on Geithner the man. The personal sacrifices he and his family had to make, his dedication to the larger cause, his genuine commitment to the common good, and his clear-headedness about himself, the problems at hand, and what ultimately needed to be done to put in place strategies that would work even though they weren't always palatable. I enjoyed his understated humor and his lack of self-centeredness, qualities missing in so many public figures. I was also moved by his take on President Obama and what the president has accomplished, which is so often overlooked by the pundits and the public. Geithner sets the record straight, as I trust history will.

Stress Test is a fascinating, almost real time history of the measures taken to save America and the balance of the world from another Great Depression. Whether you agree with his methods and actions or not, Geithner is genuine, self deprecating, intelligent and fearless.

This is a great story of a complicated subject told clearly and with sufficient drama to convey just how we close we came to complete disaster save for the tireless efforts and intelligence of a dedicated group of professionals finding their way through unknown territory. I truly enjoyed it and came to admire and be thankful for people like Geithner.

During the weeks I read "Stress Test" in late 2016 it was an immensely satisfying substitute for the spy and action novels that I usually curled up with after a long day at the office. Secretary Geithner's well-written account managed to make the Great Recession, its causes and the evolution of TARP and all the other acronyms that evolved to fight it crystal clear. As an undergraduate economics major many years ago I appreciate how tough that is. The narrative was also leavened with wry humor, I often found myself chuckling, and exploded in laughter when he described his "honey-badger moment" in the chapter on Aftershocks. I vividly remember the terrifying months in 2008 and 2009 when I threw out my quarterly 401 (K) and 457 account statements, rather than shudder at the shrinking balances. Like most people I had assumed that Geithner was a denizen of Wall Street, and was pleasantly surprised to discover he was a career public servant. He and the team even managed to return two-thirds of the TARP money back to American taxpayers. The accounts of political and bureaucratic infighting were fascinating. He also didn't spare mentioning the toll his experience took on his family. If you care about how wise public policy can make a major difference in our lives, and would like to spend a few entertaining weeks finding out, read this book.

An excellent look in to Geithner's experience during the crisis. He isn't a compelling writer, but the historical importance of his role and the uniqueness of his vantage point ultimately make up for it.

This is an amazing and very readable background of the meltdown causes followed by the even more amazing and very readable background of what it took to keep us from a deep depression. A great deal of hard work, planning, and politicking happened that was unknown. We owe a lot the leaders of both parties.

I needed to know where everything went wrong. I have a newly found respect for President Obama, secretary Geithner an all who participated in the recovery efforts that guided us to safe landing. Before anyone criticizes the administration negatively, the should read this book first,

Excellent book ! Must read for people interested in the sub prime crisis and it's aftermath. The explanation for the policy of intervention is much more convincing than made by Hank Paulson in his memoirs. This book is definitely one of the more interesting book on the topic and surpasses the books by Alan Greenspan and Paulson.

One of the best books about the near depression. A good insight to Bush and Obama. Left me with a lot more respect of what Obama did and how he does work behind the scenes. Also, I was very impressed with the intellect and effectiveness of Obama's staff.....another thing I did not know about. The political posturing was almost non existent when it came to solving the problem!!!! Thanks to Geithner and his staff and all the others involved. What a book!

Inside account of a period that changed the world. It's long and difficult to read, too many technisisms and nicknames. It's not fun to read as it isn't a novel. But if you want to have a minimum understanding of what happened, what was done and what wasn't you HAVE to read this book.

Extremely readable for a very dry topic. Since 2009 I've been aching to gain more insight into all the backroom deals that had to be made to navigate the US economy thru the Great Recession, and I also wanted to understand what was going on in the minds of the big decision makers like Geithner. I really felt that the author was as candid as he legally could be and really tried to present the issues objectively as best he could (no author can ever present any topic 100% objectively).

I would recommend this book to be required reading for economics majors.

Do not know enough about economics but he presented his actions and reasons for them in very clear and well thought out words. A very complete economic history lesson of government participation in recessions.

Stress Test is a favorite book on my list because Tim Geithner explains what actually happened during the most devastating financial times our country has experienced since the Great Depression of the Thirties. His inside information of what was being discussed at the White House, the Feds and the Treasury presents a much different picture of why decisions were made than the Sunday Pundits and the Media lead us to believe. But equally important in my reading pleasure was to become acquainted with Tim, himself. He's brilliant, thoughtful and totally dedicated to helping the people of our country and around the world who do not hold the positions of power, but depend upon good leadership making the best decisions under difficult circumstances.

As a student of economics, initially and as he served in Treasury, I was not thrilled with Geithner. His background is world based which helps me draw meaning from things he set in motion. Time will display effectiveness or lack thereof.

Exposes the reader to the reasoning behind so many decisions regarded as indefensible by the media at the time. A true learning experience that is a page Turner for a book about financial crises response.