The Courage to Act: A Memoir of a Crisis and Its Aftermath

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W.W. Norton, 2015 - Biography & Autobiography - 610 pages
In 2006, Ben S. Bernanke was appointed chair of the Federal Reserve, the unexpected apex of a personal journey from small-town South Carolina to prestigious academic appointments and finally public service in Washington’s halls of power.

There would be no time to celebrate.

The bursting of a housing bubble in 2007 exposed the hidden vulnerabilities of the global financial system, bringing it to the brink of meltdown. From the implosion of the investment bank Bear Stearns to the unprecedented bailout of insurance giant AIG, efforts to arrest the financial contagion consumed Bernanke and his team at the Fed. Around the clock, they fought the crisis with every tool at their disposal to keep the United States and world economies afloat.

Working with two U.S. presidents, and under fire from a fractious Congress and a public incensed by behavior on Wall Street, the Fed—alongside colleagues in the Treasury Department—successfully stabilized a teetering financial system. With creativity and decisiveness, they prevented an economic collapse of unimaginable scale and went on to craft the unorthodox programs that would help revive the U.S. economy and become the model for other countries.

Rich with detail of the decision-making process in Washington and indelible portraits of the major players, The Courage to Act recounts and explains the worst financial crisis and economic slump in America since the Great Depression, providing an insider’s account of the policy response.

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The Courage To Act: A Memoir of a Crisis and Its Aftermath

User Review  - Book Verdict

In this brilliant memoir, Bernanke (Essays on the Great Depression), one of America's foremost monetary economists, assesses his rise to chair the Federal Reserve, the massive financial crisis in 2008 ... Read full review

The Courage to ACT: A Memoir of a Crisis and Its Aftermath

User Review  - Ben S Bernanke - Publishers Weekly

Central bank officials don't normally star in thrillers, but this memoir of the 2008 financial collapse and the Great Recession by the former chairman of the Federal Reserve provides an exception to ... Read full review

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About the author (2015)

Ben S. Bernanke served as chairman of the Federal Reserve from 2006 to 2014. He was named Time magazine's "Person of the Year" in 2009. Prior to his career in public service, he was a professor of economics at Princeton University.

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