Sunday, September 13, 2015

Bernanke Memoir Coming October 5

The Courage to Act: A Memoir of a Crisis and Its Aftermath by Ben Bernanke is scheduled to be released by  W. W. Norton & Company on October 5.

From the blurb:
In 2006, Ben S. Bernanke was appointed chair of the Federal Reserve, capping a meteoric trajectory from a rural South Carolina childhood to professorships at Stanford and Princeton, to public service in Washington’s halls of power. There would be no time to celebrate, however―the burst of the housing bubble in 2007 set off a domino effect that would bring the global financial system to the brink of meltdown.
In The Courage to Act, Ben Bernanke pulls back the curtain on the tireless and ultimately successful efforts to prevent a mass economic failure. Working with two U.S. presidents and two Treasury secretaries, Dr. Bernanke and his colleagues used every Fed capability, no matter how arcane, to keep the U.S. economy afloat. From his arrival in Washington in 2002 and his experiences before the crisis, to the intense days and weeks of the crisis itself, and through the Great Recession that followed, Dr. Bernanke gives readers an unequaled perspective on the American economy. This narrative will reveal for the first time how the creativity and decisiveness of a few key leaders prevented an economic collapse of unimaginable scale.

I can't wait to see how this crazed money printer attempts to justify his role in the bailout of Lloyd Blaknfein,Goldman Sachs, AIG and the rest of the crony part of Wall Street.  -RW

The book is available for pre-order now:


  1. He left out the subtitle "They Got By With a Little Help From Their Friend"

  2. "This narrative will reveal for the first time how the creativity [of Bernanke et al.]...blah blah

    ...whatever happened to the good old days when "creativity" would put bankers and accountants in jail? Should this trait now be included on the resumes of aspiring central bankers?

    Furthermore, one wonders why "two U.S. presidents, two Treasury secretaries", and a professor at both "Stanford and Princeton" aren't sufficiently intellectually curious to provide a plausible explanation for the causes of " economic collapse of unimaginable scale"...apparently such a disaster only warrants the superficial effort, (working through a ghost writer to do the onerous typing), of offering exculpatory platitudes and self-congratulatory bromides.

    Why should anyone have confidence in "a few key leaders" like this?

    It's time to end the diabolical institution of central banking and fiat currencies.

  3. He pushed down rates.

    He extended loans to banks around the world. Did the average American get such loans when they were struggling?

    1. I for one am happy that the banks that defrauded me got more of my tax dollars while I had to continue paying them at oppressive rates (since I never defaulted or got behind on payments). It only makes sense that banks who lie, break the law, and teeter on the edge of bankruptcy get a little help. After all, without them, who would be around to bribe the politicians and pay the economists in academia to spout Keynesian nonsense?

  4. That's terrible marketing for Prof. Bernanke!!!!

    His publisher should have titled the memoirs as "The Exit Strategy". Guaranteed NYT bestseller!

  5. @Andrew, you only get jail time if you are an unconnected schmuck like Madoff. If there was actual justice in the US, people like Bernanke would be sharing a cell block with Madoff.