After the Music Stopped

书名：After the Music StoppedTheFinancialCrisis,theResponse,andtheWorkAhead
作者：AlanS.Blinder
译者：
ISBN：9781594205309
出版社：PenguinPressHC,The
出版时间：2013-1-24
格式：epub/mobi/azw3/pdf
页数：496
豆瓣评分： 8.2

书籍简介：

One of our wisest and most clear-eyed economic thinkers offers a masterful narrative of the crisis and its lessons Many fine books on the financial crisis were first drafts of history—books written to fill the need for immediate understanding. Alan S. Blinder, esteemed Princeton professor, Wall Street Journal columnist, and former deputy chairman of the Federal Reserve Board, held off, taking the time to understand the crisis and to think his way through to a truly comprehensive and coherent narrative of how the worst economic crisis in postwar American history happened, what the government did to fight it, and what we can do from here—mired as we still are in its wreckage. With bracing clarity, Blinder shows us how the U.S. financial system, which had grown far too complex for its own good—and too unregulated for the public good—experienced a perfect storm beginning in 2007. Things started unraveling when the much-chronicled housing bubble burst, but the ensuing implosion of what Blinder calls the “bond bubble” was larger and more devastating. Some people think of the financial industry as a sideshow with little relevance to the real economy—where the jobs, factories, and shops are. But finance is more like the circulatory system of the economic body: if the blood stops flowing, the body goes into cardiac arrest. When America’s financial structure crumbled, the damage proved to be not only deep, but wide. It took the crisis for the world to discover, to its horror, just how truly interconnected—and fragile—the global financial system is. Some observers argue that large global forces were the major culprits of the crisis. Blinder disagrees, arguing that the problem started in the U.S. and was pushed abroad, as complex, opaque, and overrated investment products were exported to a hungry world, which was nearly poisoned by them. The second part of the story explains how American and international government intervention kept us from a total meltdown. Many of the U.S. government’s actions, particularly the Fed’s, were previously unimaginable. And to an amazing—and certainly misunderstood—extent, they worked. The worst did not happen. 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. After the Music Stopped is an essential history that we cannot afford to forget, because one thing history teaches is that it will happen again.

作者简介：

书友短评：

@ 荔夏 本书分别回答关于08年次贷危机的3个问题：1.它是如何发生的？2.为了解决或缓和问题做了什么，理由是什么？3.从危机中得到的教训，如何应对下一次危机？引发危机的7个因素：1房价泡沫和债券泡沫2过高的杠杆3监管缺失4由于资产证券化，银行只负责发放抵押贷款5衍生品6评级机构7投行的薪酬激励作者提出的金融十戒1不要遗忘危机2不要依靠自我监管3尊重股东4提高风险管理5少用杠杆6保持简单和愚蠢7将衍生品标准化，并在有组织的市场中交易8交易业务显示在资产负债表中9调整不合理的薪酬体系10小心服务普通消费者和公民 @ goforit 本书分别回答关于08年次贷危机的3个问题：1.它是如何发生的？2.为了解决或缓和问题做了什么，理由是什么？3.从危机中得到的教训，如何应对下一次危机？引发危机的7个因素：1房价泡沫和债券泡沫2过高的杠杆3监管缺失4由于资产证券化，银行只负责发放抵押贷款5衍生品6评级机构7投行的薪酬激励作者提出的金融十戒1不要遗忘危机2不要依靠自我监管3尊重股东4提高风险管理5少用杠杆6保持简单和愚蠢7将衍生品标准化，并在有组织的市场中交易8交易业务显示在资产负债表中9调整不合理的薪酬体系10小心服务普通消费者和公民 @ 你来人间一趟 [Audible] 每天通勤路上听这种感兴趣又well-written的书真是非常refreshing & motivating。一词以蔽之，“清晰”，也给终于能理解其中99%内容的自己鼓鼓掌。leverage，信心没有了就是没有了，公共沟通(good policy vs bad politics)，moral hazard的争论，复杂性，监管，遗忘…… @ Primavera 在当下情景下看美利坚如何复盘一场危机的爆发、解决，看美利坚总结错误，改革制度，但同样也追责无能，以及善于玩弄民意。 @ nerek 超级好看的关于 写的真的是很清楚呢，把金融危机的爆发一层层剥清楚，只是有些金融知识点看不懂。而且作者居然还有点小幽默。不过在第二段讲改革的部分，似乎作者是个保守派，总在唱反调，拆台子。

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