Crash Course

The American Automobile Industry's Road to Bankruptcy and Bailout-and Beyond

Author: Paul Ingrassia

Publisher: Random House Incorporated

ISBN: 0812980751

Category: Business & Economics

Page: 306

View: 5972

With an updated Afterword by the author This is the epic saga of the American automobile industry’s rise and demise, a compelling story of hubris, missed opportunities, and self-inflicted wounds that culminates with the president of the United States ushering two of Detroit’s Big Three car companies—once proud symbols of prosperity—through bankruptcy. With unprecedented access, Pulitzer Prize winner Paul Ingrassia takes us from factory floors to small-town dealerships to Detroit’s boardrooms to the White House. Ingrassia answers the big questions: Was Detroit’s self-destruction inevitable? What were the key turning points? Why did Japanese automakers manage American workers better than the American companies themselves did? Complete with a new Afterword providing fresh insights into the continuing upheaval in the auto industry—the travails of Toyota, the revolving-door management and IPO at General Motors, the unexpected progress at Chrysler, and the Obama administration’s stake in Detroit’s recovery—Crash Courseaddresses a critical question: America bailed out GM, but who will bail out America?
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Once Upon a Car

The Fall and Resurrection of America's Big Three Automakers--GM, Ford, and Chrysler

Author: Bill Vlasic

Publisher: Harper Collins

ISBN: 006204222X

Category: Business & Economics

Page: 416

View: 3171

Once Upon a Car is the fascinating epic story of the rise, fall, and rebirth of the Big Three U.S. automakers, General Motors, Ford, and Chrysler. Written by Bill Vlasic, the Detroit bureau chief for the New York Times and acclaimed author of Taken for a Ride, this eye-opening, richly anecdotal work is more than a riveting and insightful business history. It offers a clear-eyed view of the present day automobile industry and of Detroit, the city that spawned it, going far beyond the corporate and federal maneuverings to explore the impact the car companies’ failures have had on the overall economy, and more importantly what they have done to people’s lives. Relevant and thought-provoking, Once Upon a Car is an unforgettable journey deep inside this quintessentially American industry.
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Comeback

The Fall & Rise of the American Automobile Industry

Author: Paul Ingrassia,Joseph B. White

Publisher: Simon and Schuster

ISBN: 1476737479

Category: Business & Economics

Page: 512

View: 4190

In Comeback, Pulitzer Prize-winners Paul Ingrassia and Joseph B. White take us to the boardrooms, the executive offices, and the shop floors of the auto business to reconstruct, in riveting detail, how America's premier industry stumbled, fell, and picked itself up again. The story begins in 1982, when Honda started building cars in Marysville, Ohio, and the entire U.S. car industry seemed to be on the brink of extinction. It ends just over a decade later, with a remarkable turn of the tables, as Japan's car industry falters and America's Big Three emerge as formidable global competitors. Comeback is a story propelled by larger-than-life characters -- Lee Iacocca, Henry Ford II, Don Petersen, Roger Smith, among many others -- and their greed, pride, and sheer refusal to face facts. But it is also a story full of dedicated, unlikely heroes who struggled to make the Big Three change before it was too late.
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Overhaul

An Insider's Account of the Obama Administration's Emergency Rescue of the Auto Industry

Author: Steven Rattner

Publisher: Houghton Mifflin Harcourt

ISBN: 054750456X

Category: Business & Economics

Page: 352

View: 2429

A uniquely informed investigative account of one of the biggest financial crises of President Obama’s early administration During his first year in office, President Obama faced the possibility of more than a million lost jobs as GM and Chrysler headed for financial ruin. He joined forces with Treasury Secretary Tim Geithner and economic advisor Larry Summers in a historic government intervention to keep these two auto-industry giants afloat, working against a ticking clock and fielding vocal opposition from free market champions along the way. It's from this vantage point that former New York Times financial journalist Steven Rattner witnesses a new administration's grace under pressure in the face of gross corporate mismanagement—a scenario rich in hard-earned lessons for managers and executives in any industry.
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Car Guys vs. Bean Counters

The Battle for the Soul of American Business

Author: Bob Lutz

Publisher: Penguin

ISBN: 9781101516027

Category: Business & Economics

Page: 272

View: 4708

A legend in the car industry reveals the philosophy that's starting to turn General Motors around. In 2001, General Motors hired Bob Lutz out of retirement with a mandate to save the company by making great cars again. He launched a war against penny pinching, office politics, turf wars, and risk avoidance. After declaring bankruptcy during the recession of 2008, GM is back on track thanks to its embrace of Lutz's philosophy. When Lutz got into the auto business in the early sixties, CEOs knew that if you captured the public's imagination with great cars, the money would follow. The car guys held sway, and GM dominated with bold, creative leadership and iconic brands like Cadillac, Buick, Pontiac, Oldsmobile, GMC, and Chevrolet. But then GM's leadership began to put their faith in analysis, determined to eliminate the "waste" and "personality worship" of the bygone creative leaders. Management got too smart for its own good. With the bean counters firmly in charge, carmakers (and much of American industry) lost their single-minded focus on product excellence. Decline followed. Lutz's commonsense lessons (with a generous helping of fascinating anecdotes) will inspire readers at any company facing the bean counter analysis-paralysis menace. From the Hardcover edition.
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Engines of Change

A History of the American Dream in Fifteen Cars

Author: Paul Ingrassia

Publisher: Simon and Schuster

ISBN: 145164065X

Category: Transportation

Page: 416

View: 868

A narrative like no other: a cultural history that explores how cars have both propelled and reflected the American experience— from the Model T to the Prius. From the assembly lines of Henry Ford to the open roads of Route 66, from the lore of Jack Kerouac to the sex appeal of the Hot Rod, America’s history is a vehicular history—an idea brought brilliantly to life in this major work by Pulitzer Prize–winning journalist Paul Ingrassia. Ingrassia offers a wondrous epic in fifteen automobiles, including the Corvette, the Beetle, and the Chevy Corvair, as well as the personalities and tales behind them: Robert McNamara’s unlikely role in Lee Iacocca’s Mustang, John Z. DeLorean’s Pontiac GTO , Henry Ford’s Model T, as well as Honda’s Accord, the BMW 3 Series, and the Jeep, among others. Through these cars and these characters, Ingrassia shows how the car has expressed the particularly American tension between the lure of freedom and the obligations of utility. He also takes us through the rise of American manufacturing, the suburbanization of the country, the birth of the hippie and the yuppie, the emancipation of women, and many more fateful episodes and eras, including the car’s unintended consequences: trial lawyers, energy crises, and urban sprawl. Narrative history of the highest caliber, Engines of Change is an entirely edifying new way to look at the American story.
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The Poisoner's Handbook

Murder and the Birth of Forensic Medicine in Jazz Age New York

Author: Deborah Blum

Publisher: Penguin

ISBN: 1101524898

Category: Medical

Page: 336

View: 2991

Equal parts true crime, twentieth-century history, and science thriller, The Poisoner's Handbook is "a vicious, page-turning story that reads more like Raymond Chandler than Madame Curie" (The New York Observer) A fascinating Jazz Age tale of chemistry and detection, poison and murder, The Poisoner's Handbook is a page-turning account of a forgotten era. In early twentieth-century New York, poisons offered an easy path to the perfect crime. Science had no place in the Tammany Hall-controlled coroner's office, and corruption ran rampant. However, with the appointment of chief medical examiner Charles Norris in 1918, the poison game changed forever. Together with toxicologist Alexander Gettler, the duo set the justice system on fire with their trailblazing scientific detective work, triumphing over seemingly unbeatable odds to become the pioneers of forensic chemistry and the gatekeepers of justice. In 2014, PBS's AMERICAN EXPERIENCE released a film based on The Poisoner's Handbook.
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American Icon

Alan Mulally and the Fight to Save Ford Motor Company

Author: Bryce G. Hoffman

Publisher: Crown Business

ISBN: 0307886069

Category: Business & Economics

Page: 422

View: 3521

THE INSIDE STORY OF THE EPIC TURNAROUND OF FORD MOTOR COMPANY UNDER THE LEADERSHIP OF CEO ALAN MULALLY. At the end of 2008, Ford Motor Company was just months away from running out of cash. With the auto industry careening toward ruin, Congress offered all three Detroit automakers a bailout. General Motors and Chrysler grabbed the taxpayer lifeline, but Ford decided to save itself. Under the leadership of charismatic CEO Alan Mulally, Ford had already put together a bold plan to unify its divided global operations, transform its lackluster product lineup, and overcome a dys­functional culture of infighting, backstabbing, and excuses. It was an extraordinary risk, but it was the only way the Ford family—America's last great industrial dynasty—could hold on to their company. Mulally and his team pulled off one of the great­est comebacks in business history. As the rest of Detroit collapsed, Ford went from the brink of bankruptcy to being the most profitable automaker in the world. American Icon is the compelling, behind-the-scenes account of that epic turnaround. On the verge of collapse, Ford went outside the auto industry and recruited Mulally—the man who had already saved Boeing from the deathblow of 9/11—to lead a sweeping restructuring of a company that had been unable to overcome decades of mismanage­ment and denial. Mulally applied the principles he developed at Boeing to streamline Ford's inefficient operations, force its fractious executives to work together as a team, and spark a product renaissance in Dearborn. He also convinced the United Auto Workers to join his fight for the soul of American manufacturing. Bryce Hoffman reveals the untold story of the covert meetings with UAW leaders that led to a game-changing contract, Bill Ford's battle to hold the Ford family together when many were ready to cash in their stock and write off the company, and the secret alliance with Toyota and Honda that helped prop up the Amer­ican automotive supply base. In one of the great management narratives of our time, Hoffman puts the reader inside the boardroom as Mulally uses his celebrated Business Plan Review meet­ings to drive change and force Ford to deal with the painful realities of the American auto industry. Hoffman was granted unprecedented access to Ford's top executives and top-secret company documents. He spent countless hours with Alan Mulally, Bill Ford, the Ford family, former executives, labor leaders, and company directors. In the bestselling tradition of Too Big to Fail and The Big Short, American Icon is narrative nonfiction at its vivid and colorful best.
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Masters of Enterprise

Author: H.W. Brands

Publisher: Simon and Schuster

ISBN: 1476726930

Category: Business & Economics

Page: 368

View: 8152

From the early years of fur trading to today's Silicon Valley empires, America has proved to be an extraordinarily fertile land for the creation of enormous fortunes. Each generation has produced one or two phenomenally successful leaders, often in new industries that caught contemporaries by surprise, and each of these new fortunes reconfirmed the power of fanatically single-minded visionaries. John Jacob Astor and Cornelius Vanderbilt were the first American moguls; John D. Rockefeller, Andrew Carnegie, and J. P. Morgan were kingpins of the Gilded Age; David Sarnoff, Walt Disney, Ray Kroc, and Sam Walton were masters of mass culture. Today Oprah Winfrey, Andy Grove, and Bill Gates are giants of the Information Age. America has again and again been the land of dizzying mountains of wealth. Here, in a wittily told and deeply insightful history, is a complete set of portraits of America's greatest generators of wealth. Only such a collective study allows us to appreciate what makes the great entrepreneurs really tick. As H. W. Brands shows, these men and women are driven, they are focused, they deeply identify with the businesses they create, and they possess the charisma necessary to persuade other talented people to join them. They do it partly for the money, but mostly for the thrill of creation. The stories told here -- including how Nike got its start as a business-school project for Phil Knight; how Robert Woodruff almost refused to take control of Coca-Cola to spite his father; how Thomas Watson saved himself from prison by rescuing Dayton, Ohio, from a flood; how Jay Gould nearly cornered the gold market; how H. L. Hunt went from gambling at cards to gambling with oil leases -- make for a narrative that is always lively and revealing and often astonishing. An observer in 1850, studying John Jacob Astor, would not have predicted the rise of Henry Ford and the auto industry. Nor would a student of Ford in 1950 have anticipated the takeoff of direct marketing that made Mary Kay Ash a trusted guide for millions of American women. Full of surprising insights, written with H. W. Brands's trademark flair, the stories in Masters of Enterprise are must reading for all students of American business history.
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Mondo Agnelli

Fiat, Chrysler, and the Power of a Dynasty

Author: Jennifer Clark

Publisher: John Wiley & Sons

ISBN: 1118236114

Category: Business & Economics

Page: 336

View: 4340

The fascinating story of a century-old automobile dynasty Fiat is one of the world's largest automakers, but when it made headlines by grabbing control of a bankrupt Chrysler in 2009 it was unknown in the U.S. Fiat’s against-all-odds swoop on Chrysler---masterminded by Sergio Marchionne, the Houdini-like manager who saved Fiat from its own near-collapse in 2005 – has made the automaker one of the most unlikely winners of the financial crisis. Mondo Agnelli is a new book that looks at the chain of unpredictable events triggered by the death of Gianni Agnelli in 2003. Gianni, the charismatic, silver-haired power broker and style icon, was the patriarch who had lead the company founded by his grandfather in 1899. But Gianni's own son had committed suicide. Without a mature heir, the dynasty and Fiat were rudderless. Backed by Gianni's closest advisors, his serious, shy, and determined grandson John plucked Marchionne from obscurity. Together, they saved the family company and, inadvertently, positioned Fiat as a global trailblazer when the global storm hit. A classic story of ingenuity and hard work, the book portrays a business dynasty that triumphed over adversity and family tragedy because of its own smarts, sweat, and ability to bend the rules A an engaging tale for those interested in the stories behind the economic crash, the book contains never-before reported material about how Fiat succeeded in making Chrysler profitable where both Daimler AG and Cerberus, its previous owners, had failed. A story for a wide audience, from car buffs, business readers, lovers of Italy, and anyone fascinated by the lifestyle of Europe's most glamorous industrial dynasty, this book tells the tale of how Fiat achieved the seemingly impossible -- turning around an American automotive icon everyone else had given up for dead.
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Rude Awakening

The Rise, Fall, and Struggle for Recovery of General Motors

Author: Maryann Keller

Publisher: HarperCollins

ISBN: 9780060973421

Category: Automobile industry and trade

Page: 283

View: 8245

Drawing on the experoence of hundreds of past and present GM insiders, filled with inttrigue and humor, dramatic moments, and vivid personalities, top industry analyst Maryann Keller brings her hardhitting insight to the once-unparalleled leader of an industry--General Motors.
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Taken for a Ride

Cars, Crisis, And A Company Once Called

Author: Bill Vlasic,Bradley A. Stertz

Publisher: Harper Collins

ISBN: 0061877808

Category: Business & Economics

Page: 432

View: 1236

Here is the book that exposed the Daimler-Chrysler "merger of equals" as a bold German takeover of an industrial icon. Taken for a Ride reveals the shock waves felt around the world when Daimler-Benz bought Chrysler for $36 billion in 1998. In a gripping narrative, Bill Vlasic and Bradley A. Stertz go behind the scenes of the defining corporate drama of the decade -- and in a new epilogue chart its chaotic aftermath.
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A Road Well Traveled

Profiles of America's Great Automobile Pioneers

Author: Daniel Alef

Publisher: Meta4 Press, LLC

ISBN: 9781608043422

Category:

Page: 416

View: 6433

Award-winning author, Daniel Alef, tells the stories of America's great automotive pioneers, innovators and visionaries who changed America's landscape, introduced a new national culture, developed the largest industry in the nation, employed millions, and gave an enormous boost to American commerce. The great American automobile pioneers played a major role in creating the nation we have today and Daniel Alef's book brings to life their stories, achievements, successes and, at times, failures. Some were mechanical geniuses; others great businessmen who could sell their dreams and make them come true. Anyone passionate about cars, vintage, antique or classic, and there are millions of us, will find a mother lode of information in this well written book.
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Six Men who Built the Modern Auto Industry

Author: Richard A. Johnson

Publisher: Motorbooks International

ISBN: N.A

Category: Transportation

Page: 384

View: 4039

This is the story of six extraordinary men who each built something from nothing, redefined the automotive industry after World War II, and redirected its course for the future: Henry Ford II (visionary autocrat with an iron will), Shoichiro Honda (most successful automotive entrepreneur since Henry Ford I), Eberhard von Kuenheim (founder of the modern BMW), Lee Iacocca, Ferdinand Piech (builder of Volkswagen Group) and Robert Lutz (who left retirement at 70 and is still highly influential at General Motors). What made them special was the sheer volume of fundamental change they brought to the largest industry in the history of the world. They not only re-shaped the auto business, the six made a sizable dent in the societies they lived in. To a man they were great cognitive thinkers. Their minds worked with animal speed, even instinct speed. But more than anything these were brave and cantankerous souls who rode the waves of history. Each could see the future. They could just make it out-sometimes imperfectly, but could see it nonetheless. They took a business that had begun to mature and decline by the 1930s and found ways to make it fresh and whole again.- The compelling story of the global car business over the past half-century.- A lively and engaging narrative that recounts some times collaborative, sometimes archly antagonistic interactions among the men- Full of business revelations at the highest level, written by a journalist operating at the heart of the industry- Global appeal that shows how automotive groups in the USA, Europe and Asia have influenced each other- A business story interlaced with personal details that explains why the six were determined to be successfulAbout the AuthorFor two decades, Richard Johnson has worked for Crain Communications, publisher of the world's leading automotive business publications. Founding editor of Crain's Automotive News Europe, he has been a reporter and editor for the group in Detroit, Tokyo, Frankfurt and London. He is currently a senior editor with Automotive News in Detroit and regularly talks to the most senior executives in the leading car manufacturing groups.
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Icons and Idiots

Straight Talk on Leadership

Author: Bob Lutz

Publisher: Penguin

ISBN: 159184696X

Category: Business & Economics

Page: 228

View: 8541

"The former vice chairman of General Motors and author of Car Guys vs. Bean Counters profiles the positive and negative leaders who made the strongest impression on him throughout his extensive career, sharing illuminating anecdotes that provide today's managers with leadership examples to emulate or avoid."
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Memoirs

Author: David Rockefeller

Publisher: Random House Incorporated

ISBN: 0812969731

Category: Biography & Autobiography

Page: 521

View: 6646

The youngest son of John D. Rockefeller, Jr., and Abby Aldrich Rockefeller narrates the story of his life, from his youth and Harvard education, through his military service during World War II, to his career in business and finance, and chronicles his varied roles as financier, philanthropist, and unofficial international envoy. Reprint. 75,000 first printing.
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U. S. Motor Vehicle Industry

Federal Financial Assistance and Restructuring

Author: Stephen Cooney

Publisher: DIANE Publishing

ISBN: 1437939279

Category:

Page: 49

View: 8029

This is a print on demand edition of a hard to find publication. In 12/08, Pres. George W. Bush provided financial assistance to GM and Chrysler -- $13.4 billion to GM and $4 billion to Chrysler from the Troubled Assets Relief Program (TARP). Ford did not need such assistance immediately but might require a line of credit in 2009. A further $6 billion was loaned to GM Acceptance Corp. (GMAC), and $1.5 billion to Chrysler Financial, the two manufacturers¿ respective credit affiliates. Contents of this report: Intro.; Auto Industry Loan Develop. in 12/08; Impact on the National Economy; The Domestic Motor Vehicle Market; Financial Issues in the Auto Industry; Financial Solutions: Bridge Loans and Restructuring; Pension and Health Care Issues; Stipulations and Conditions on TARP Loans to the Auto Industry.
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Fear City

New York's Fiscal Crisis and the Rise of Austerity Politics

Author: Kim Phillips-Fein

Publisher: Metropolitan Books

ISBN: 0805095268

Category: History

Page: 320

View: 2102

An epic, riveting history of New York City on the edge of disaster—and an anatomy of the austerity politics that continue to shape the world today When the news broke in 1975 that New York City was on the brink of fiscal collapse, few believed it was possible. How could the country’s largest metropolis fail? How could the capital of the financial world go bankrupt? Yet the city was indeed billions of dollars in the red, with no way to pay back its debts. Bankers and politicians alike seized upon the situation as evidence that social liberalism, which New York famously exemplified, was unworkable. The city had to slash services, freeze wages, and fire thousands of workers, they insisted, or financial apocalypse would ensue. In this vivid account, historian Kim Phillips-Fein tells the remarkable story of the crisis that engulfed the city. With unions and ordinary citizens refusing to accept retrenchment, the budget crunch became a struggle over the soul of New York, pitting fundamentally opposing visions of the city against each other. Drawing on never-before-used archival sources and interviews with key players in the crisis, Fear City shows how the brush with bankruptcy permanently transformed New York—and reshaped ideas about government across America. At once a sweeping history of some of the most tumultuous times in New York's past, a gripping narrative of last-minute machinations and backroom deals, and an origin story of the politics of austerity, Fear City is essential reading for anyone seeking to understand the resurgent fiscal conservatism of today. Fear City is one of Publishers Weekly's Top 10 Best Books of 2017
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Bailout Nation

How Greed and Easy Money Corrupted Wall Street and Shook the World Economy

Author: Barry Ritholtz

Publisher: John Wiley & Sons

ISBN: 9780470535981

Category: Business & Economics

Page: 360

View: 4876

An engaging look at what led to the financial turmoil we now find ourselves in Bailout Nation offers one of the clearest looks at the financial lenders, regulators, and politicians responsible for the financial crisis of 2008. Written by Barry Ritholtz, one of today's most popular economic bloggers and a well-established industry pundit, this book skillfully explores how the United States evolved from a rugged independent nation to a soft Bailout Nation-where financial firms are allowed to self-regulate in good times, but are bailed out by taxpayers in bad times. Entertaining and informative, this book clearly shows you how years of trying to control the economy with easy money has finally caught up with the federal government and how its practice of repeatedly rescuing Wall Street has come back to bite them. The definitive book on the financial crisis of 2008 Names the culprits responsible for this tragedy-from financial regulators to politicians Shows how each bailout throughout modern history has impacted what happened in the future Examines why the consumer/taxpayer is left suffering in an economy of bubbles, bailouts, and possible inflation Ritholtz operates a hugely popular blog, www.ritholtz.com/blog Scathing, but fair, Bailout Nation is a voice of reason in these uncertain economic times.
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After the Fall

Saving Capitalism from Wall Street and Washington

Author: Nicole Gelinas

Publisher: Encounter Books

ISBN: 1594035415

Category: Political Science

Page: 256

View: 2096

Robust financial markets support capitalism, they don't imperil it. But in 2008, Washington policymakers were compelled to replace private risk-takers in the financial system with government capital so that money and credit flows wouldn't stop, precipitating a depression. Washington's actions weren't the start of government distortions in the financial industry, Nicole Gelinas writes, but the natural result of 25 years' worth of such distortions. In the early eighties, modern finance began to escape reasonable regulations, including the most important regulation of all, that of the marketplace. The government gradually adopted a "too big to fail" policy for the largest or most complex financial companies, saving lenders to failing firms from losses. As a result, these companies became impervious to the vital market discipline that the threat of loss provides. Adding to the problem, Wall Street created financial instruments that escaped other reasonable limits, including gentle constraints on speculative borrowing and requirements for the disclosure of important facts. The financial industry eventually posed an untenable risk to the economy -- a risk that culminated in the trillions of dollars' worth of government bailouts and guarantees that Washington scrambled starting in late 2008. Even as banks and markets seem to heal, lenders to financial companies continue to understand that the government would protect them in the future if necessary. This implicit guarantee harms economic growth, because it forces good companies to compete against bad. History and recent events make clear what Washington must do. First, policymakers must reintroduce market discipline to the financial world. They can do so by re-creating a credible, consistent way in which big financial companies can fail, with lenders taking their warranted losses. Second, policymakers can reapply prudent financial regulations so that markets, and the economy, can better withstand inevitable excesses of optimism and pessimism. Sensible regulations have worked well in the past and can work well again. As Gelinas explains in this richly detailed book, adequate regulation of financial firms and markets is a prerequisite for free-market capitalism -- not a barrier to it.
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