After the Music Stopped : The Financial Crisis, the Response, and the Work Ahead

作者：AlanS.Blinder

出版社：PenguinPressHC,The

副标题：TheFinancialCrisis,theResponse,andtheWorkAhead

出版年：2013-1-24

页数：496

定价：USD29.95

装帧：Hardcover

ISBN：9781594205309

内容简介
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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.

评论 ······

了解和分析金融危机最好的一本读物。唯一一颗星扣在了政治倾向上。作为一个民主党议员，自由派的倾向非常明显。在发生危机的时候强调政府的调控，对保守派的Moral Hazard担忧嗤之以鼻

如果看过并给Too Big To Fail(TBTF)五星评价，一定要看这本书。两者的区别 academic vs journalism。具体来说：TBTF是个科普性质的读物，让普通大众了解到有这样一种情况。ATMS则是从学术的角度对起因、形成的过程、影响及解决办法进行了分析和阐述。

超级好看的关于2008年金融危机历史和美国宏观经济的论述，像小说一样，根本停不下来。作者语言明白晓畅，深入浅出，可以说是写作模板了。

对金融危机有详细的描述

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