Sunday, February 14, 2010

On the Brink: Inside the Race to Stop the Collapse of the Global Financial System

"On the Brink" is a truly remarkable account from the one person who was at the center of the greatest financial crisis ever faced by our country. Hank Paulson does not judge, promote, condemn or vilify; instead he tells a fascinating account of all the major players and their legitimate concerns and motivations.

His ability to explain complex financial situations, which served him so well when dealing with Congress, makes his book highly readable for anyone with a basic understanding of our economic and political systems. "On the Brink" immediately captures your attention with the near demise of Fannie Mae and Freddie Mac then doesn't let go as the Department of Treasury and the Federal Reserve commence their epic struggle to stop the rapidly falling dominoes from bringing down our entire way of life.

Through Paulson's straight forward but intriguing narrative, not only do you gain a true appreciation for the stakes, but you have an insider's view of a complex game fraught with politics, conflicting interests and even international relations. While this book is anything but self serving, you come away knowing simply through the facts, that everything accomplished between September 2008 and January 2009 could never have been done unless this core team of players, guided by Paulson and Bernanke, were dedicated, trustworthy, and extremely competent.

I highly recommend this book to anyone who wants to understand the economic situation that brought our country to the brink and the steps that were taken to keep it from toppling over the edge.

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