After the Music Stopped
The Financial Crisis, the Response, and the Work Ahead
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Narrated by:
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Graham Vick
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By:
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Alan S. Blinder
About this listen
Named one of the 10 best books of 2013 by Michiko Kakutani and the New York Times Book Review
Alan S. Blinder - esteemed Princeton professor, Wall Street Journal columnist, and former vice chairman of the Federal Reserve Board under Alan Greenspan - is one of our wisest and most clear-eyed economic thinkers. In After the Music Stopped, he delivers a masterful narrative of how the worst economic crisis in postwar American history happened, what the government did to fight it, and what we must do to recover from it. With bracing clarity, Blinder chronicles the perfect storm of events beginning in 2007, from the bursting of the housing bubble to the implosion of the bond bubble, and how events in the U.S. spread throughout the interconnected global economy. Truly comprehensive and eminently listenable, After the Music Stopped is the essential book about the financial crisis.
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Instead of going where other journalists have gone in search of this story - the board rooms and trading floors of the big Wall Street firms - Scheer goes back to Washington, D.C., a veritable crime scene, beginning in the 1980s, where the captains of the finance industry, their lobbyists and allies among leading politicians destroyed an American regulatory system that had been functioning effectively since the era of the New Deal.
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A great telling of an unfortunate part of history
- By Trace on 10-27-20
By: Robert Scheer
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Why Wall Street Matters
- By: William D. Cohan
- Narrated by: Rob Shapiro
- Length: 4 hrs and 14 mins
- Unabridged
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William D. Cohan is no knee-jerk advocate for Wall Street and the big banks. He's one of America's most respected financial journalists and the progressive best-selling author of House of Cards. He has long been critical of the bad behavior that plagued much of Wall Street in the years leading up to the 2008 financial crisis, and because he spent 17 years as an investment banker on Wall Street, he is an expert on its inner workings as well.
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An Inch Deep and A Mile Wide
- By Doug Sheridan on 04-26-17
By: William D. Cohan
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Bought and Paid For
- The Unholy Alliance Between Barack Obama and Wall Street
- By: Charles Gasparino
- Narrated by: Lloyd James
- Length: 9 hrs and 32 mins
- Unabridged
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According to business reporter Charles Gasparino, President Obama is faking his outrage at Wall Street, and his calls for new policies to rein in banks that are "too big to fail" are just pabulum. In reality, Obama has climbed into bed with Wall Street CEOs, giving them what they want so they will support his liberal, big-government agenda.
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Revealing and Convincing
- By Walter on 10-24-11
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The Age of Oversupply
- Overcoming the Greatest Challenge to the Global Economy
- By: Daniel Alpert
- Narrated by: Don Hagen
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- Unabridged
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The governments and central banks of the developed world have tried every policy tool imaginable, yet our economies remain sluggish, or worse. How did we get here, and how can we emerge from the longest downturn in recent memory? Daniel Alpert, a progressive Wall Street banker and economist, argues that we are living in the age of oversupply.
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Great book but now out of date
- By emory morsberger on 11-30-17
By: Daniel Alpert
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Why Save the Bankers?
- And Other Essays on Our Economic and Political Crisis
- By: Thomas Piketty, Seth Ackerman - translator
- Narrated by: LJ Ganser
- Length: 5 hrs and 1 min
- Unabridged
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Thomas Piketty's work has proved that unfettered markets lead to increasing inequality. Without meaningful regulation, capitalist economies will concentrate wealth in an ever smaller number of hands. Armed with this knowledge, democratic societies face a defining challenge: fending off a new aristocracy. For years Piketty has wrestled with this problem in his monthly newspaper column, which pierces the surface of current events to reveal the economic forces underneath.
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Fool's Gold
- By: Gillian Tett
- Narrated by: Stephen Hoye
- Length: 10 hrs and 7 mins
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Gillian Tett brings to life in gripping detail how the Morgan team's bold ideas for a whole new kind of financial alchemy helped to ignite a revolution in banking, and how that revolution escalated wildly out of control. The deeply reported and lively narrative takes readers behind the scenes, to the inner sanctums of elite finance and to the secretive reaches of what came to be known as the "shadow banking" world.
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Outstanding narrative about the financial crisis
- By D. Littman on 07-17-09
By: Gillian Tett
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Currency Wars
- The Making of the Next Global Crises
- By: James Rickards
- Narrated by: Walter Dixon
- Length: 9 hrs and 52 mins
- Unabridged
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In 1971, President Nixon imposed national price controls and took the United States off the gold standard, an extreme measure intended to end an ongoing currency war that had destroyed faith in the U.S. dollar. Today we are engaged in a new currency war, and this time the consequences will be far worse than those that confronted Nixon. Currency wars are one of the most destructive and feared outcomes in international economics.
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don't be misled
- By peter on 04-01-12
By: James Rickards
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Fault Lines
- How Hidden Fractures Still Threaten the World's Economy
- By: Raghuram Rajan
- Narrated by: Richard Davidson
- Length: 12 hrs and 58 mins
- Unabridged
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Raghuram Rajan was one of the few economists who warned of the global financial crisis before it hit. Now, as the world struggles to recover, it's tempting to blame what happened on just a few greedy bankers who took irrational risks and left the rest of us to foot the bill. In Fault Lines, Rajan argues that serious flaws in the economy are also to blame, and warns that a potentially more devastating crisis awaits us if they aren't fixed.
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A REAL SNOOZER
- By Frank on 12-02-10
By: Raghuram Rajan
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The Death of Money
- The Coming Collapse of the International Monetary System
- By: James Rickards
- Narrated by: Sean Pratt
- Length: 13 hrs and 13 mins
- Unabridged
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The international monetary system has collapsed three times in the past hundred years, in 1914, 1939, and 1971. Each collapse was followed by a period of tumult: War, civil unrest, or significant damage to the stability of the global economy. Now James Rickards, the acclaimed author of Currency Wars, shows why another collapse is rapidly approaching - and why this time, nothing less than the institution of money itself is at risk.
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A good review of the global financial system
- By Jean on 04-22-14
By: James Rickards
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The Ascent of Money
- A Financial History of the World
- By: Niall Ferguson
- Narrated by: Simon Prebble
- Length: 11 hrs and 27 mins
- Unabridged
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Niall Ferguson follows the money to tell the human story behind the evolution of finance, from its origins in ancient Mesopotamia to the latest upheavals on what he calls Planet Finance. Bread, cash, dosh, dough, loot, lucre, moolah, readies, the wherewithal: Call it what you like, it matters. To Christians, love of it is the root of all evil. To generals, it's the sinews of war. To revolutionaries, it's the chains of labor. Niall Ferguson shows that finance is in fact the foundation of human progress.
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A mostly successful and interesting history
- By A reader on 02-24-09
By: Niall Ferguson
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What listeners say about After the Music Stopped
Average customer ratingsReviews - Please select the tabs below to change the source of reviews.
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- Mark McCandless
- 05-09-15
Great summary of the financial crisis and response
While I have read several books on the crisis and found the first few chapters familiar terrain, it summarizes it well and added the bond bubble to my understanding of the issues. What intrigued me more was the evaluation of the policy responses. This is a great overall book-- most I've read have left out parts of the puzzle or written early enough that not all policy responses are considered-- and I rescind it.
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2 people found this helpful
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- D. Klenk
- 10-19-14
Better than the others
Would you listen to After the Music Stopped again? Why?
Yes I plan on listening to it again because the topic is complex and Blinder's analysis of the causes and remedies are not yet fully implemented.
Who was your favorite character and why?
This isn't a story focused on characters. It is about a crisis, ideas of solutions, and decisions. The favorite idea is about the way to help people with their mortgages. That is because it was not addressed by the decision makers during the crisis.
What about Graham Vick’s performance did you like?
He has a very appealing voice.
If you were to make a film of this book, what would the tag line be?
This is not a drama, it is an excellent analysis.
Any additional comments?
This book is better than Elizabeth Warren's book or Tim Geithner's book because it is not written as a personal memoir. It is an objective analysis from one of the very few people smart enough and familiar enough to get it right.
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- Elaine
- 07-26-14
One of the best books on the Financial Crisis
I've read (or listened to) many books on the financial crisis and this is one of the best. I have quite deliberately not read the memoirs of Geithner and Bernanke, however. Not only does Blinder (former vice chair of the Fed, among other prestigious positions) cover the crisis in broad strokes, but he also covers at some length policy prescriptions to head off or lessen the impacts of the next crisis (and there will certainly be another). I gained a better understanding of the various instruments that the Fed has used and a better understanding of the Dodd-Frank bill, which is bitterly opposed by those who do not wish to be closely regulated. Blinder writes in an easy-to-read (or listen to) style and explains complex problems in a clear way. Though an self-described Democrat, he does not spare his criticism of both the Bush and Obama administrations. Definitely recommended for those who wonder what happened, what the response to the crisis was and a way forward from this disaster.
The narrator was excellent. The book is written in a somewhat folksy style and Graham Vick captured the tone perfectly.
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4 people found this helpful
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- Dan Collins
- 01-25-19
No Love for Those Who Successfully Avert Disaster
This book is interesting for a couple of reasons. First off, I am a conservative and this book is written by a Democrat. Alan Blinder makes a compelling case for the Democratic view of what happened in 2007-2008 (and since then) and makes many points I had never considered. The other thing that is interesting is the author's emphasis on the political climate and how the fiscal and monetary moves were (or were not) metabolized and implemented both in private and public sectors. I was exhausted at the end of this book.
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- KFC
- 05-17-18
Best book on the crisis
This is one of my favorite books. It explains the crisis and its causes clearly and succinctly. Blinder defines terms and concepts with amazing clarity, without any condescension. Very thorough without overwhelming the reader—an absolute must read for anyone hoping to acquire a working understanding of what exactly happened and why. I frequently revisit it
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- Todd Blankenship
- 10-25-24
Excellent summary of the Great Recession
One of the better accounts of the credit crunch - Great Recession - banking crisis. See Wall Street for what it is.
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- Chris B.
- 01-01-18
Brilliant research.. tip o' the hat!
this is by far the most researched book I've read on the financial crisis. The book is not wonky.. though it delves into nuances with satisfying detail.. the work does not reek of partisanship, rather the book illuminates areas without shrill effect and comes across as neutral in its fantastic laser like depiction of a complex and still rippling era in our history. A great listen.
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- Theo Tsourdalakis
- 03-07-16
EXCELLENT IN MANY RESPECTS
Although this book goes for over 15 hours; I went though it with great interest and anticipation. Blinder has done a great job of reducing the fog and bringing much needed clarity to the GFC. Gibberish that I year from other economist was completely lacking in this book - it is spoken in clear understandable English for the non- economist.
I learnt much and was pleased to discover that there was no cover up that I could detect.
My only reservation is that he gives the impression that the GFC if over or a least under control. With this I disagree. The USD$19Trillion federal debt is a time bomb created in the GFC - the fuse is lit and it is yet to explode
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- Nathan Parker
- 12-28-20
Incoherent
I've read two books on the financial crisis, so I had a fairly good understanding of what happened before starting this book. I was just hoping for a bit more insight into the financial instruments involved, because it gets pretty complex as layer after layer of derivatives are placed on top of one another.
Instead of adding clarity, however, Blinder's presentation is highly disorganized, jumping from one topic to another and failing to define terms before using them. He even inserts his recommendations for the future in the middle of describing what happened, rather than waiting for the end. After two hours, I'm so irritated with the mess that he's made of the narrative that I just can't listen anymore.
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- Thomas
- 12-22-14
Irresponsible, corrupt, and confused book
Any additional comments?
From the beginning, Professor Blinder makes false assertions and follows them with confusing, complicated statistics which fail to prove his assertions. For example, he states that no one in the world predicted the housing bubble. Then he describes the real price changes on houses, which he says went up far too fast. Lot's of people knew that the savings and loan associations had fallen from a burst bubble, and then the internet companies. Anyone who went shopping for a house could tell you that houses were overpriced, decrepit, and poorly maintained and not worth the price. The investment company wheelers and dealers were making a fortune in fees selling the houses, but lots of people realized they were being deceived and had no choice but to buy at high prices. Houses never go up in value. Houses depreciate from the time they are built, just as cars do. People were buying houses without realizing that businessmen were in a frenzy of automating jobs and laying off workers, who then couldn't pay their mortgage payments. Professor Blinder is blind to all of this, and asserts that government was unable to properly regulate the housing market, and that was the cause of the crash. Wrong on so many counts. I worked for Citi's subsidiary Primeamerica briefly, refinancing housing loans with a claim that the owner of the house would pay less if he bought with fees a loan from Primeamerica. We were trained to lie to the owner, and not give them the statistics on the price of the loan until the minute they signed for the loan. Citi was slipping millions in campaign donations to our representatives to pass bills that ignored the whole problem. That is just one example of Professor Blinder's false assertions, saying that government regulators caused the bursting of the bubble. Don't buy this book. Don't give it the time of day.
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