In Fed We Trust: Ben Bernanke's War on the Great Panic

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Scribe, 2009 - Banks and banking, Central - 323 pages
41 Reviews
'Whatever it takes'That was Federal Reserve Chairman Ben Bernanke's vow as the worst financial panic in more than fifty years gripped the world and he struggled to avoid the once unthinkable: a repeat of the Great Depression. Brilliant but temperamentally cautious, Bernanke researched and wrote about the causes of the Depression during his career as an academic. Then when thrust into a role as one of the most important people in the world, he was compelled to boldness by circumstances he never anticipated.The US president can respond instantly to a missile attack with America's military might, but he cannot respond to a financial crisis with real money unless Congress acts. The Fed chairman can. Bernanke did. Under his leadership the Fed spearheaded the biggest government intervention in more than half a century and effectively became the fourth branch of government, with no direct accountability to the nation's voters.Believing that the economic catastrophe of the 1930s was largely the fault of a sluggish and wrongheaded Federal Reserve, Bernanke was determined not to repeat that epic mistake. In this penetrating look inside the most powerful economic institution in the world, David Wessel illuminates its opaque and undemocratic inner workings, while revealing how the Bernanke Fed led the desperate effort to prevent the world's financial engine from grinding to a halt.In piecing together the fullest, most authoritative, and alarming picture yet of this decisive moment, In Fed We Trust is a breathtaking and singularly perceptive look at a historic episode in American and global economic history.'Wessel . . . wraps his incisive mind and elegant prose around an unfolding catastrophe. It's all here: exclusive interviews, startling disclosures, brilliantly rendered moments of panic and improvisation. . . (W)itty and poignant, even as it manages, page by page, to make sense of it all. This is the first 'must read' book of the great panic.'-Ron Suskind, Pulitzer Prize-winning journalist and author of The Way of the World

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Review: In FED We Trust: Ben Bernanke's War on the Great Panic

User Review  - Jiri Kram - Goodreads

FED is a mysterious organisation. Usually you don't see behind the myths. This book is useful glimpse what FED does and how people around FED influence decision impacting all economy. Useful to read. Read full review

Review: In FED We Trust: Ben Bernanke's War on the Great Panic

User Review  - Goodreads

FED is a mysterious organisation. Usually you don't see behind the myths. This book is useful glimpse what FED does and how people around FED influence decision impacting all economy. Useful to read. Read full review

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About the author (2009)

David Dyergrew up in a coastal town in NSW, Australia, and graduated as dux of his high school in 1984. After commencing a degree in medicine and surgery at the University of Sydney, he soon decided it was not for him.

David went on to train as a ship's officer at the Australian Maritime College, travelling Australia and the world in a wide range of merchant ships. He graduated from the college with distinction and was awarded a number of prizes, including the Company of Master Mariners Award for highest overall achievement in the course. He then returned to the University of Sydney to complete a combined degree in Arts and Law. David was awarded the Frank Albert Prize for first place in Music I, High Distinctions in all English courses and First Class Honours in Law. From the mid-1990s until early 2000s David worked as a litigation lawyer in Sydney, and then in London at a legal practice whose parent firm represented the Titanic's owners back in 1912. In 2002 David returned to Australia and obtained a Diploma in Education from the University of New England, and commenced teaching English at Kambala, a school for girls in Sydney's eastern suburbs.

David has had a life-long obsession with the Titanic and has become an expert on the subject. In 2009 he was awarded a Commonwealth Government scholarship to write The Midni

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