Too Big to Save? How to Fix the U.S. Financial System
“For the last two years I've been receiving requests -- email and otherwise -- for a readable, educating book on the financial crisis. And while various books on the crisis have had their merits, no one of them has fit that bill. Until now. Robert Pozen's Too Big to Save? How to Fix the U.S. Financial System is the single best source for figuring out what happened. It is the go-to book if you are a non-specialist and want to understand: how credit default swaps work, the significance of Basel II, mark-to-market, how the various Fed bailouts operated, the meaning of the toxic asset plans, and many other matters.”
— Tyler Cowen/ September 2009, http://www.marginalrevolution.com
"Should be required reading on Capitol Hill."
— Kevin Hall, McClatchy Newspapers
"Pozen’s book offers significantly more than a factual recitation of events leading up to and during the credit crisis. Beyond that, it offers a comprehensive framework for analysis and concrete proposals for appropriate regulatory responses. Broadly, Pozen’s aim is not – or not only – to tell the story of the crisis, but rather to analyze how the crisis can illuminate and inform the appropriate relationship between government and financial markets. Pozen describes specific regulatory innovations intended to keep pace with the speed and complexity of financial innovation. He offers, that is, the analysis sorely lacking in more journalistic accounts of the crisis. In that regard, his book is one of the few in the growing literature arising out of the crisis that should inform any serious discussion of new financial regulation."
— Alisa Greenstein, The Hedge Fund Law Report, October 2009
"When Bob Pozen talks, people listen―with good reason. This book is full of wisdom about the flaws in our financial system that let the crisis develop and, more important, detailed prescriptions for fixing it. Read it. Then keep it on your desk as a reference."
― Alan S. Blinder, former vice chairman, Federal Reserve Board, and Gordon S. Rentschler Memorial Professor of Economics and Public Affairs, Princeton University
"In an era of specialized books about the financial crisis, Bob Pozen's is a sparkling exception. In plain English, he explains to the intelligent reader how we got into this financial mess, assesses steps taken by government, and prescribes practical ways to prevent a future crisis. Bob Pozen is one of the nation's most thoughtful and responsible financial leaders. If you are looking for one book to sort out the financial crisis, start here!"
― David Gergen, Professor, Harvard Kennedy School, and Senior Political Analyst, CNN
"This book is not only a detailed yet thoroughly lucid and accessible study of the financial crisis; it is also, and more important, the best critique I have seen of the government's responses to the crisis and its recent blueprint for financial regulatory reform."
― Richard A. Posner, U.S. Circuit Judge and author of A Failure of Capitalism: The Crisis of '08 and the Descent into Depression