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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He also does a credible job in covering the Eurozone Crisis without writing a whole other book but it is just a passing mention and as such not intended to be a deep analysis. Alan Blinder explains with great clarity the different levers the US Government, particularly the Fed, pulled in response to one of the greatest financial crisis in modern history — averting total financial meltdown but still coming out as one of the villains.

Some of this may be true; it’s certainly become the conventional wisdom. A readable description of the financial crisis, its causes, its repercussions, a rating of the reactions to it, and some suggestions for the future. The bubbles in housing and mortgage-backed securities developed in a situation where some people were unusually eager to lend, while others were unusually willing to borrow.

Bear executives maintained that they could have averted bankruptcy without requiring assistance, if they had been given access to the PDCF. It will probably gloss over or completely ignore the really technical stuff. TARP seems to have made money for the government. So I think what we have here is pages of a five-star book that focuses on analysis, maybe even a six star book, followed by an honest but flawed three-star book that does not do a terribly good job of synthesis.

Figuring out how to respond – and provide evidence of the response – is another arguably more difficult problem. Jan 01, Peter rated it really liked it. The Tea Party and conservative members of Congress blocked it. His rehab program stoppde policy makers is in a few cases downright dumb.

You won’t find tirades about inequality, global imbalances, or the global glut of savings here. Third, he has to try to do all that five years after the crisis itself, when memories have grown hazy and most folks just want to move on. During my daily work, I encounter all of these jargon-y phrases and bits of the narrative, but it was helpful to have all of the information brought together into a comprehensive story.


When America’s financial structure crumbled, the damage proved to be not only deep, but wide. Search for a book title or author. After the Music Stopped makes sense of what I experienced through soundbites and daily news stories. Lenders sold their mortgages to financial firms that packaged them for sale to other investors. It was remarkably timely, including post-election November insights.

It is also worthwhile if you have read a lot on this set of crises. Blinder does a good job exploring the tension between actions that are best for economy as a whole and people’s fundamental notions of fairness, which were violated by the entire experience. Feb 12, Andrew rated it it was amazing. Even if over simplified in some respects the author takes this issue on. A great read to understand not just the events that led to the financial crisis and response thereafter but also the rationale behind them.

As a result, his solutions may not be fundamental enough to cure what really ails the American economy. You are commenting using your WordPress. Blinder offers clear-eyed answers to the questions still before us, even if some of the choices ahead are as divisive as they are unavoidable.

Alan Blinder’s After the Music Stopped

It took the crisis for the world to discover, to its horror, just how truly interconnected – and alna – the global financial system is. You are commenting using your Facebook account.

He does not ask where we’re left, other than to refer to issues everybody with a pulse knows about, like the future costs of Medicare and the need for both lower spending and higher taxes in the future, but lax fiscal policy now. After the Music Stopped doesn’t bring a whole lot of new insight into the crisis, but it covers a lot of ground in a relatively clear and factually accurate manner.

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He seems to blame partisanship on conservatives, which regardless of whether that assertion is true, doesn’t add to his central argument. When it comes to the housing bubble, the way he puts it “the enemy is us.


It covers aftdr causes of the crisis, the failure of various financial services institutions, TARP, responses within the Fed, the economic stimulus bill, and finally Dodd-Frank.

Obama’s confederates, his audience, much like those most likely to agree with most of Blinder’s arguments, are already convinced — they may even know most of this at a greater level stoppd detail than Blinder is offering.

After the Music Stopped: The Financial Crisis, the Response, and the Work Ahead by Alan S. Blinder

The American public and the world received confusing, often times contradictory and, musuc many of us in the American public, seemingly insane remedies the Federal Reserve had to fix the American financial system. I’m better off for having read it, though, and I have not found a better one. Economist Alan Blinder has written an exceptionally lucid and readable account of the financial crisis and its aftermath.

A derivative is a security whose value depends upon the value of an underlying asset, like a stock option whose value depends upon the price of the stock when the option is exercised.

It’s enough to make you take the gas pipe. It took the blindeg for the world to discover, to its horror, just how truly With bracing clarity, Blinder shows us how the U. That is by far the strongest part of the book.

He’s rough on Larry Summers “Everyone knew Summers was brilliant; if you ever forgot, he was eager to remind alna.

Despite these minor disagreements about is style, After the Music Stopped is an excellent resource for anyone who is interested what happened during the financial crisis. My conclusion about this book is that it’s a fantastic guide to the crisis for the uninitiated. It means I can’t recommend his book to my Republican friends and family.

Leave a Comment Cancel reply Enter your comment here Dec 30, Brett rated it really liked it Shelves: And the ultimate investors, ranging from sophisticated managers to treasurers of small towns in Norway, were essentially clueless.