Too Big to Fail
The Inside Story of How Wall Street and Washington Fought to Save the Financial System--and Themselves
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Narrated by:
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William Hughes
About this listen
A real-life thriller about the most tumultuous period in America's financial history by an acclaimed New York Times reporter. Andrew Ross Sorkin delivers the first true, behind-the-scenes, moment-by-moment account of how the greatest financial crisis since the Great Depression developed into a global tsunami.
From inside the corner office at Lehman Brothers to secret meetings in South Korea and the corridors of Washington, Too Big to Fail is the definitive story of the most powerful men and women in finance and politics grappling with success and failure, ego and greed, and, ultimately, the fate of the world's economy.
"We've got to get some foam down on the runway!" a sleepless Timothy Geithner, the then-president of the Federal Reserve of New York, would tell Henry M. Paulson, the Treasury secretary, about the catastrophic crash the world's financial system would experience. Through unprecedented access to the players involved, Too Big to Fail re-creates all the drama and turmoil, revealing neverdisclosed details and elucidating how decisions made on Wall Street over the past decade sowed the seeds of the debacle.
This true story is not just a look at banks that were "too big to fail"; it is a real-life thriller with a cast of bold-faced names who themselves thought they were too big to fail.
©2009 Andrew Ross Sorkin (P)2009 Penguin AudiobooksListeners also enjoyed...
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"Andrew Ross Sorkin has written a fascinating, scene-by-scene saga of the eyeless trying to march the clueless through Great Depression II." (Tom Wolfe)
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The hidden history of Wall Street and the White House comes down to a single American concept: confidence. Both centers of power, New York and Washington, learned how to manufacture it - until August 2007, when that confidence began to crumble. Ron Suskind here tells the story of what happened next, as Wall Street struggled to save itself while a man with little experience and soaring rhetoric emerged from obscurity to usher in "a new era of responsibility".
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Insightful, but...
- By Ray on 10-29-11
By: Ron Suskind
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The Greatest Trade Ever
- The Behind-the-Scenes Story of How John Paulson Defied Wall Street and Made Financial History
- By: Gregory Zuckerman
- Narrated by: Marc Cashman
- Length: 11 hrs and 40 mins
- Unabridged
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In 2006, hedge fund manager John Paulson realized something few others suspected - that the housing market and the value of subprime mortgages were grossly inflated and headed for a major fall. Paulson's background was in mergers and acquisitions, however, and he knew little about real estate or how to wager against housing. He had spent a career as an also-ran on Wall Street. But Paulson was convinced this was his chance to make his mark. He just wasn't sure how to do it. Colleagues at investment banks scoffed at him and investors dismissed him.
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Better Books Now Available
- By David on 05-02-11
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When Genius Failed
- The Rise and Fall of Long-Term Capital Management
- By: Roger Lowenstein
- Narrated by: Roger Lowenstein
- Length: 9 hrs and 12 mins
- Abridged
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Overall
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Performance
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Story
Roger Lowenstein, the bestselling author of Buffett, captures Long-Term's roller-coaster ride in gripping detail. Drawing on confidential internal memos and interviews with dozens of key players, Lowenstein crafts a story that reads like a first-rate thriller from beginning to end. He explains not just how the fund made and lost its money, but what it was about the personalities of Long-Term's partners, the arrogance of their mathematical certainties, and the late-nineties culture of Wall Street that made it all possible.
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When Genius Failed
- By Sean on 12-17-08
By: Roger Lowenstein
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American Icon
- Alan Mulally and the Fight to Save Ford Motor Company
- By: Bryce G. Hoffman
- Narrated by: Pete Larkin
- Length: 14 hrs and 45 mins
- Unabridged
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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.
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The best business book I ever read
- By Michael on 10-07-12
By: Bryce G. Hoffman
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Dethroning the King
- The Hostile Takeover of Anheuser-Busch, an American Icon
- By: Julie MacIntosh
- Narrated by: Joyce Bean
- Length: 12 hrs and 57 mins
- Unabridged
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How did InBev, a Belgian company controlled by Brazilians, take over one of America's most beloved brands after barely a whimper of a fight? With timing - and some unexpected help from powerful members of the Busch dynasty, the very family that had run the company for more than a century. From the very heart of America's heartland to the European continent to Brazil, Dethroning the King is the ultimate corporate caper and a fascinating case study that's both wide-reaching and profound.
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Good Story but Narration Can be Annoying
- By Ken on 10-21-11
By: Julie MacIntosh
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The House of Dimon
- How JP Morgan's Jamie Dimon Rose to the Top of the Financial World
- By: Patricia Crisafulli
- Narrated by: Suzanne Toren
- Length: 9 hrs and 39 mins
- Unabridged
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Jamie Dimon is Wall Street's biggest player. Following the 11h-hour rescue of Bear Stearns by JPMorgan, his profile has reached stratospheric levels. And while the deals and decisions he's made have usually turned out to be the right ones, his journey to the top of the financial world has been anything but easy. Now, in The House of Dimon, business writer Patricia Crisafulli goes behind the scenes to recount the amazing events that have shaped Dimon's career.
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Intriguing
- By Jean on 08-28-16
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The Asylum
- The Renegades Who Hijacked the World's Oil Market
- By: Leah McGrath Goodman
- Narrated by: Robert Fass
- Length: 16 hrs and 34 mins
- Unabridged
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They were a band of outsiders unable to get jobs with New York's gilded financial establishment. They would go on to corner the world's multitrillion-dollar oil market, reaping unimaginable riches while bringing the economy to its knees. Meet the self-anointed kings of the New York Mercantile Exchange. In some ways, they are everything you would expect them to be: a secretive, members-only club of men and women who live lavish lifestyles; cavort with politicians, strippers, and celebrities; and blissfully jacked up oil prices to nearly $150 a barrel while profiting off the misery of the working class.
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A far better book than its come-on implies
- By Philo on 01-05-14
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The Match King
- Ivar Kreuger, the Financial Genius Behind a Century of Wall Street Scandals
- By: Frank Partnoy
- Narrated by: L. J. Ganser
- Length: 10 hrs and 48 mins
- Unabridged
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At the height of the roaring 20s, Swedish émigré Ivar Kreuger made a fortune raising money in America and loaning it to Europe in exchange for matchstick monopolies. His enterprise was a rare success story throughout the Great Depression. Yet after Kreuger's suicide in 1932, the true nature of his empire emerged.
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excellent Depression era history-biography
- By Donovan R. on 06-17-10
By: Frank Partnoy
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The Money Culture
- By: Michael Lewis
- Narrated by: Alexander Cendese
- Length: 6 hrs and 52 mins
- Unabridged
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Performance
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The 1980s was the most outrageous and turbulent era in the financial market since the crash of ’29, not only on Wall Street but around the world. Michael Lewis, as a trainee at Salomon Brothers in New York and as an investment banker and later financial journalist, was uniquely positioned to chronicle the ambition and folly that fueled the decade. In these trenchant, often hilarious true tales we meet the colorful movers and shakers who commanded the headlines and rewrote the rules.
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Not the normal great Michael Lewis
- By Me on 05-12-12
By: Michael Lewis
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The Wizard of Lies
- Bernie Madoff and the Death of Trust
- By: Diana B. Henriques
- Narrated by: Pam Ward
- Length: 16 hrs
- Unabridged
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Overall
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Performance
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Story
Who is Bernie Madoff, and how did he pull off the biggest Ponzi scheme in history? These questions have fascinated people ever since the news broke about the respected New York financier who swindled his friends, relatives, and other investors out of $65 billion. Many have speculated about what must have happened, but no reporter has been able to get the full story - until now. Diana B. Henriques of the New York Times has written the definitive book on the man and his scheme.
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The best of 3 madoff books
- By Angela willis on 03-18-13
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The Hellhound of Wall Street
- How Ferdinand Pecora's Investigation of the Great Crash Forever Changed American Finance
- By: Michael Perino
- Narrated by: George K. Wilson
- Length: 14 hrs and 34 mins
- Unabridged
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Overall
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Performance
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Story
In The Hellhound of Wall Street, Michael Perino recounts in riveting detail the 1933 hearings that put Wall Street on trial for the Great Crash. Never before in American history had so many financial titans been called to account before the public, and they had come within a few weeks of emerging unscathed. By the time Ferdinand Pecora, a Sicilian immigrant and former New York prosecutor, took over as chief counsel, the investigation had dragged on ineffectively for nearly a year and was universally written off as dead....
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Great Story
- By Lynn on 03-22-11
By: Michael Perino
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This inside story of WeWork and its CEO tells the remarkable saga of one of the most audacious, and improbable, rises and falls in American business history. Veteran journalist Reeves Weideman dives deep into WeWork and its CEO's astronomical rise, from the marijuana and tequila-filled board rooms to cult-like company summer camps and consciousness-raising with Anthony Kiedis. Billion Dollar Loser is a character-driven business narrative that captures, through the fascinating psyche of a billionaire founder and his wife and co-founder, the slippery state of global capitalism. \
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Engrossing and we’ll researches but narration is annoying
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What listeners say about Too Big to Fail
Average customer ratingsReviews - Please select the tabs below to change the source of reviews.
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Overall
- Laura
- 01-11-10
Surprisingly Revealing
Initially, I didn't even consider listening to this book since I'm well aware of current events, and I thought it would be repetitive. After all, didn't we get enough of the daily harping on the factors contributing to our economic crisis? But The Economist listed it as one of the best books of the year, so I thought I would give it a try. In fact, Too Big to Fail is not a dull chronology of the events leading up to Lehman's failure and the creation of TARP; rather, it exposes the sentiments, conversations, decisions, and intentions of every major player and government figure involved with Wall Street's financial rescue. It reads like a suspense novel and is full of gossipy, fascinating tidbits which one would never hear on the news.
Sorkin's awareness of private conversations and correspondence between government regulators and the investment banking firms' staff is absolutely incredible. Since there haven't been any lawsuits accusing Sorkin of slander, I can only assume that they are truthful portrayals. He must have convinced friends, spouses, government staffers and high-level figures alike to recount everything they had witnessed, heard, or said. I don't know how he managed to do all of that and publish the book in such a short amount of time, but it's pretty impressive.
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38 people found this helpful
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- david
- 07-21-24
David V
Excellent book however I now have new questions and will have to continue to read more about this collapse
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1 person found this helpful
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Overall
- Ambrose A. Dunn-meynell
- 07-03-11
good for the serious listener
Having listened to the book whilst driving etc. i found it hard to keep up with. This is a massive work packed with details and seems too much for causal attention. I tend to agree with the reviewer who advised that print is better. If you want to devote your time to listening to this book you will find it a monumental work packed with insights.
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- Super Nana
- 03-04-15
Outstanding Coverage of Critical Events!
Sorkin has done a phenomenal job compiling the events of the toughest financial times in recent history. Also, outstanding narration.
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- Armand
- 01-03-12
One Perspective.
This account is but one of the many different perspective on the 2008 financial crises. A fascinating listen on the personalities and egos involved in the entire mess. You have to stop and wonder at times how the author was able to get the intricate details of key conversations and meetings that makes the story so much more interesting. However sometimes the details are overwhelming and a distraction and you tend to lose track of the main theme. True I may have a short attention span but I found myself struggling to remember the many characters involved at times.
In my opinion, this book should be heard/read after having finished "All the Devils Are Here" (McLean and Nocera). That way you've just gotten the big picture view and history of The Crises and now you're ready for the detailed character descriptions.
Overall an interesting read!
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- Michael
- 06-24-23
A great narrative history of the crisis
Ross Sorkin did a very good job of humanizing the financial crisis. He was pretty even handed in his narrative. However I don't think he gave enough credit to Bernanke Geithner and Paulson. I believe their actions during the crisis were nothing short of heroic. William Hughes does a masterful job of narration. Personally I wish they had saved Lehman Brothers. They certainly wanted to but with the political circumstances at that moment in time it was impossible. This book is taylor made for audible. That format fits nicely with the narrative. All things considered, a great audible book.
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- Nicholas Castaneda
- 02-20-10
Well written, performed and fascinating
This makes our recent financial history something between a spy novel and paulson biography. If you are interesting in contemporary issues and how our world is currently being formed READ THIS.
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- skinner
- 09-05-11
Great great read
Would you recommend this audiobook to a friend? If so, why?
I would highly recommend this book. For layman who is interested in understanding the meltdown of the markets 2 years ago this book is a must.
What did you like best about this story?
Sorkin creates very vivid portraits of all the important players. Its an easy read and doesn't require you to have a depth of wall street knowledge to understand what happened.
What about William Hughes’s performance did you like?
Everything. He brings just the right tone- not overly dramatic, not campy.
If you could give Too Big to Fail a new subtitle, what would it be?
Why Lehman was Allowed to Fail
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- Brian Lewis
- 04-24-13
This is the one
This is the one to get. Mr. Sorkin does an amazing job of putting all the facts together in a way that's fair, that makes sense, and that acknowledges the complexity of the subject matter. It's a little dry, but I personally found it captivating.
The Big Short is another good place to start for understanding the financial crisis.
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- Josh Uldricks
- 02-02-19
Excellent description of a time
This book is an excellent portrayal of events leading up to and during the tarp rollout in 2008. It doesn’t cover much before or after that period at all. Its thorough, well researched and definitely worth a read. The book doesn’t argue whether the outcome of 2008 was good or bad. Simply present the evidence for the reader to listen to and decide.
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