Financial Times
America’s troubled asset relief programme – better known as Tarp – died on Sunday, at the age of two. The causes of death were bitter politics and financial illiteracy. Hatched in the post-Lehman bankruptcy panic, Tarp allowed Barack Obama, US president, and his predecessor, George W. Bush, to bypass laborious Congressional approval and deploy $700bn to rescue a collapsing financial system. In its short life Tarp soon became the programme that everyone loved to hate.
Wall Street Journal
Former ‘car czar’ Rattner on why a turnaround was so hard – and why it could very well succeed
Wall Street Journal
Cold-sweat talks, high-stakes power plays and four-letter outbursts: In the room with Obama’s team as it tries to save Detroit.
“[a] surprisingly modest account…Rattner has a journalistic talent for the telling detail, resulting in a memorable tale of life in the middle of the economic meltdown...Rattner deftly draws portraits of the inhabitants of "the Oval" and the West Wing...Rattner has proved himself a gifted chronicler.”
-Time Magazine
