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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I think people are likely still going to scratch their heads as to how over banks got themselves into so many bad loans. Many of the U. Any serious economics student or enthusiast MUST read. In fact TARP addressed the banks and was not a give away.

Subprime housing loans that could be repackaged as safe-looking investments thrived in that environment. Many of these loans were traps for unwary borrowers: After the Music Stopped is a lay person’s guide to the financial crisis of wtopped 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. A deeply comprehensive and yet very readable account of the events leading to, during, and following the global financial crisis of Because so much of the financial system was built upon a number of these risky financial practices, it was thd catastrophe that spread like wildfire from the Wall Street to Main Street.

Jun 30, Curtis Seven rated it really liked it Shelves: Sadly, it’s a bit downhill from there. It is unthinkable to me that Summers broke more rules than Paulson, Geithner or Bernanke or agter he was anywhere nearly as conflicted or involved, for that matter.

Alan Blinder’s After the Music Stopped

He’s not entirely critical of the Bush administration however nor does he give Obama a pass for that matter but I think it accurate to say that he fairly well excoriates the GOP members in the House of Representatives muusic contributing little if anything to solving the crisis except under duress.

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His writing style is generally pretty plain, though writing an exciting description of a Collateralized Debt Obligation may not be possible even for the most blonder of writers. This really gets us to the heart of both book and crisis.

Reading work like this can easily make one jealous. I personally have many feelings about this crisis and the utter lack of any real accountability for its many architects, and Blinder helped lead me through that by acknowledging the bad behavior, setting it in context, and moving on.

TARP seems to have made money for the government. He [John Maynard Keynes] would have been shocked to hear that anyone in was still asking the question. Previous Next Share this: It will probably gloss over or binder ignore the really technical stuff. Beneath the Surface by Edward J. Blinder blames regulatory failures, noting the positions of Alan Greenspan and the Bush-era administrators at muisc An excellent reference on the first recession of the 21st Century.

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I think I’ll make tge spreadsheet of that table and keep it on my computer so I can carry on keeping track for myself as we go on.

In effect, Blinder is trying to do what he argues Obama did not: Although Blinder does discuss some global fallout from the crisis, his account of both its causes and its solutions focuses primarily on problems within the American financial system and its regulation. According to professor Blinder the answer to everything is the federal government; more government spending, tne taxes, more government regulation and whatever else John Keynes recommends.

This issue as of the publishing of the book has not yet played out some six years latter largely because of politics. With bracing clarity, Blinder shows us how the U.

He served on the Federal Open Market Committee This is a good, even-handed synopsis of the financial crisis of and the political response that occurred in the years that followed.

Hardcoverpages. It describes a problem created by complicated and opaque financial products, exce After the Tthe Stopped: Blinder, Professor of Economics and Public Affairs at Princeton University and former vice chairman of the Federal Reserves Board of Governors fromcomes across as very informed on the subject and very patiently explains even basic financial terminology.


There are long stretches where he italicizes two, three or four words a paragraph, sometimes technical terms ” opacity “sometimes single words he wants to stress ” higher expected inflation “or parentheticals he’s whispering to us ” It’s ten o’clock.

After the Music Stopped by Alan Blinder

Sep 18, Fran rated it it was amazing Shelves: You are commenting using your Twitter account. Thanks for telling us about the problem. It took the crisis for the world to discover, to its horror, just how truly interconnected – and fragile – the global financial system is. What is that case? One of our wisest and most clear-eyed economic thinkers offers a masterful narrative of the crisis and its lessons.

Most accounts concentrate on one or two, but he gives us a long, if prosaic, list: It took the crisis for the world to discover, to its horror, just how truly interconnected-and fragile-the global financial system is. Throughout the book Blinder comes across as very informed and readers would appreciate the time he takes blibder explain many financial terms and systems that they would otherwise not know.

The Tea Party and conservative members of Congress blocked it. Paper Promises Philip Coggan. So the Fed can only be held accountable for what the author calls the “bond bubble” but not the housing bubble.

Leave a Comment Cancel reply Enter your comment here Mar 14, Chris rated it it was amazing Shelves: It is a detailed account, no doubt, but I just felt the writing to be a bit ztopped and uninspiring.

Many fine books on the financial crisis were first drafts of history – books written to fill the need for immediate understanding. His rehab program for policy makers is in a few cases downright dumb.