Review: Too Big to Fail

This book is some dense stuff – the way it recounts conversations makes it reads like a novel, but it’s a non-fiction, roughly chronological account of the 2007-2008 financial crisis, starting with the collapse of Bear Stearns and ending with the passage and acceptance of the Troubled Asset Relief Program (TARP) funds.

It includes short biographies of key players, conversations between them, the deals made to keep the financial system afloat, and the thought process behind the big decisions. It talks about why Lehman Brothers failed, the controversy over bonuses, and gives the general causes of the Great Recession.

I would have liked a bit more explanation about the technical financial aspects of some topics, such as the accounting tricks Lehman used to dress up its books. Also, I think a summary or timeline of significant contributing factors to the financial collapse – it was sometimes hard to keep up with things. As the book progresses, the time frame of each chapter condenses, making it hard to keep a an accurate sense of time.