Bernanke was appointed chair of the Federal Reserve, the unexpected apex of a personal journey from small-town South Carolina to prestigious academic appointments and finally public service in Washington’s halls of power.There would be no time to celebrate.The bursting of a housing bubble in 2007 exposed the hidden vulnerabilities of the global financial system, bringing it to the brink of meltdown. From the implosion of the investment bank Bear Stearns to the unprecedented bailout of insurance giant AIG, efforts to arrest the financial contagion consumed Bernanke and his team at the Fed. Around the clock, they fought the crisis with every tool at their disposal to keep the United States and world economies afloat.Working with two U.S. presidents, and under fire from a fractious Congress and a public incensed by behavior on Wall Street, the Fed—alongside colleagues in the Treasury Department—successfully stabilized a teetering financial system. With creativity and decisiveness, they prevented an economic collapse of unimaginable scale and went on to craft the unorthodox programs that would help revive the U.S. economy and become the model for other countries.Rich with detail of the decision-making process in Washington and indelible portraits of the major players, The Courage to Act recounts and explains the worst financial crisis and economic slump in America since the Great Depression, providing an insider’s account of the policy response.

    Now she brings her extraordinary gifts to one of the most important subjects today-the relationship between the United States and China-and one of the most significant moments in modern history. In February 1972, Richard Nixon, the first American president ever to visit China, and Mao Tse-tung, the enigmatic Communist dictator, met for an hour in Beijing. Their meeting changed the course of history and ultimately laid the groundwork for the complex relationship between China and the United States that we see today. That monumental meeting in 1972-during what Nixon called "the week that changed the world"-could have been brought about only by powerful leaders: Nixon himself, a great strategist and a flawed human being, and Mao, willful and ruthless. They were assisted by two brilliant and complex statesmen, Henry Kissinger and Chou En-lai. Surrounding them were fascinating people with unusual roles to play, including the enormously disciplined and unhappy Pat Nixon and a small-time Shanghai actress turned monstrous empress, Jiang Qing. And behind all of them lay the complex history of two countries, two great and equally confident civilizations: China, ancient and contemptuous yet fearful of barbarians beyond the Middle Kingdom, and the United States, forward-looking and confident, seeing itself as the beacon for the world. Nixon thought China could help him get out of Vietnam. Mao needed American technology and expertise to repair the damage of the Cultural Revolution. Both men wanted an ally against an aggressive Soviet Union. Did they get what they wanted? Did Mao betray his own revolutionary ideals? How did the people of China react to this apparent change in attitude toward the imperialist Americans? Did Nixon make a mistake in coming to China as a supplicant? And what has been the impact of the visit on the United States ever since? Weaving together fascinating anecdotes and insights, an understanding of Chinese and American history, and the momentous events of an extraordinary time, this brilliantly written book looks at one of the transformative moments of the twentieth century and casts new light on a key relationship for the world of the twenty-first century. Margaret MacMillan is the author of "Women of the Raj" and "Paris 1919: Six Months That Changed the World," which won the Duff Cooper Prize, the Samuel Johnson Prize for Non-Fiction, the Hessell-Tiltman Prize for History, a Silver Medal for the Arthur Ross Book Award of the Council on Foreign Relations, and the Governor General's Literary Award for nonfiction. It was selected by the editors of "The New York Times" as one of the best books of 2002. Currently the provost of Trinity College and a professor of history at the University of Toronto, MacMillan takes up the position of warden of St. Antony's College, Oxford, in July 2007. She is an officer of the Order of Canada, a fellow of the Royal Society of Literature, and a senior fellow of Massey College at the University of Toronto.

    Only billionaire J.P. Morgan was able to save the stock market.Black Tuesday (1929): As the newly created Federal Reserve System repeatedly adjusted interest rates in all the wrong ways, investment trusts, the darlings of that decade, became the catalyst that caused the bubble to burst, and the Dow fell dramatically, leading swiftly to the Great Depression.Black Monday (1987): When "portfolio insurance," a new tool meant to protect investments, instead led to increased losses, and corporate raiders drove stock prices above their real values, the Dow dropped an astonishing 22.6 percent in one day.The Great Recession (2008): As homeowners began defaulting on mortgages, investment portfolios that contained them collapsed, bringing the nation's largest banks, much of the economy, and the stock market down with them.The Flash Crash (2010): When one investment manager, using a runaway computer algorithm that was dangerously unstable and poorly understood, reacted to the economic turmoil in Greece, the stock market took an unprecedentedly sudden plunge, with the Dow shedding 998.5 points (roughly a trillion dollars in valuation) in just minutes.The stories behind the great crashes are filled with drama, human foibles, and heroic rescues. Taken together they tell the larger story of a nation reaching enormous heights of financial power while experiencing precipitous dips that alter and reset a market where millions of Americans invest their savings, and on which they depend for their futures. Scott Nations vividly shows how each of these major crashes played a role in America's political and cultural fabric, each providing painful lessons that have strengthened us and helped us to build the nation we know today.A History of the United States in Five Crashes clearly and compellingly illustrates the connections between these major financial collapses and examines the solid, clear-cut lessons they offer for preventing the next one.

    In penning this book, New York Times bestselling authors Martin Anderson and Annelise Anderson drew upon their unprecedented access to more than eight million highly classified documents housed within the Ronald Reagan Presidential Library in Simi Valley, California—unseen by the public until now. Using his top secret clearances, Martin Anderson was able to access Ronald Reagan’s most privileged exchanges with subordinates and world leaders as well as the tactical record of how Reagan fought to win the Cold War and control nuclear weapons. The most revelatory of these documents are the minutes of Reagan-chaired National Security Council meetings, the dozens of secret letters sent by Reagan to world leaders, and the eyewitness notes from Reagan-Gorbachev summits. Along with these findings, the authors use Reagan’s speeches, radio addresses, personal diaries, and other correspondence to develop a striking picture of a man whose incisive intelligence, uncanny instincts, and quiet self-confidence changed the course of history. What emerges from this treasure trove of material is irrefutable evidence that Reagan intended from his first days in office to bring down the Soviet Union, that he considered eliminating nuclear weapons his paramount objective, and that he—not his subordinates—was the principal architect of the policies that ultimately brought the Soviets to the nuclear-arms negotiating table. The authors also affirm that many of Reagan’s ideas, including his controversial “Star Wars” missile-defense initiative, proved essential in dissolving the Soviet Union and keeping America safe.Riveting and eye-opening, Reagan’s Secret War provides a front-row seat to history, a journey into the political mind of a remarkable leader, and proof that one man can, through the force of his deep convictions, bring about sweeping global change.

    Cussed and discussed by all from notable politicians to academicians to laypersons. Do you want to know the truth about money? Creature from Jekyll Island will give you the answers to these, and other, questions: Where does money come from? Where does it go? Who makes it? The money magicians' secrets are unveiled. We get a close look at their mirrors and smoke machines, their pulleys, cogs, and wheels that create the grand illusion called money. A dry and boring subject? Just wait! You'll be hooked in five minutes. Creature from Jekyll Island Reads like a detective story which it really is. But it's all true. This book is about the most blatant scam of all history. It's all here: the cause of wars, boom-bust cycles, inflation, depression, prosperity. Creature from Jekyll Island is a "must read." Your world view will definitely change. You'll never trust a politician again or a banker.

    This second edition is updated to include new material covering the Reagan and Bush years, and the Iran/Contra affair.

    The dust had yet to settle on the global financial crisis in 2009 when an unlikely Wharton grad was setting in motion a fraud of unprecedented gall and magnitude--one that would come to symbolize the next great threat to the global financial system. Billion Dollar Whale will become a classic, harrowing parable about the financial world in the twenty-first century.

    Gary J. Bass shows how Nixon and Kissinger supported Pakistan’s military dictatorship as it brutally quashed the results of a historic free election. The Pakistani army launched a crackdown on what was then East Pakistan (today an independent Bangladesh), killing hundreds of thousands of people and sending ten million refugees fleeing to India—one of the worst humanitarian crises of the twentieth century.Nixon and Kissinger, unswayed by detailed warnings of genocide from American diplomats witnessing the bloodshed, stood behind Pakistan’s military rulers. Driven not just by Cold War realpolitik but by a bitter personal dislike of India and its leader Indira Gandhi, Nixon and Kissinger actively helped the Pakistani government even as it careened toward a devastating war against India. They silenced American officials who dared to speak up, secretly encouraged China to mass troops on the Indian border, and illegally supplied weapons to the Pakistani military—an overlooked scandal that presages Watergate.Drawing on previously unheard White House tapes, recently declassified documents, and extensive interviews with White House staffers and Indian military leaders, The Blood Telegram tells this thrilling, shadowy story in full. Bringing us into the drama of a crisis exploding into war, Bass follows reporters, consuls, and guerrilla warriors on the ground—from the desperate refugee camps to the most secretive conversations in the Oval Office. Bass makes clear how the United States’ embrace of the military dictatorship in Islamabad would mold Asia’s destiny for decades, and confronts for the first time Nixon and Kissinger’s hidden role in a tragedy that was far bloodier than Bosnia. This is a revelatory, compulsively readable work of politics, personalities, military confrontation, and Cold War brinksmanship.

    How did this marvel of self-organized complexity evolve? How is wealth created within this system? And how can wealth be increased for the benefit of individuals, businesses, and society? In The Origin of Wealth, Eric D. Beinhocker argues that modern science provides a radical perspective on these age-old questions, with far-reaching implications. According to Beinhocker, wealth creation is the product of a simple but profoundly powerful evolutionary formula: differentiate, select, and amplify. In this view, the economy is a "complex adaptive system" in which physical technologies, social technologies, and business designs continuously interact to create novel products, new ideas, and increasing wealth. Taking readers on an entertaining journey through economic history, from the Stone Age to modern economy, Beinhocker explores how "complexity economics" provides provocative insights on issues ranging from creating adaptive organizations to the evolutionary workings of stock markets to new perspectives on government policies. A landmark book that shatters conventional economic theory, The Origin of Wealth will rewire our thinking about how we came to be here—and where we are going.

    It is currently winding down, and American troops are likely to leave soon -- but only after a stay of nearly two decades.In The American War in Afghanistan, Carter Malkasian provides the first comprehensive history of the entire conflict. Malkasian is both a leading academic authority on the subject and an experienced practitioner, having spent nearly two years working in the Afghan countryside and going on to serve as the senior advisor to General Joseph Dunford, the US military commander in Afghanistan and later the chairman of the joint chiefs of staff. Drawing from a deep well of local knowledge, understanding of Pashto, and review of primary source documents, Malkasian moves through the war's multiple phases: the 2001 invasion and after; the light American footprint during the 2003 Iraq invasion; the resurgence of the Taliban in 2006, the Obama-era surge, and the various resets in strategy and force allocations that occurred from 2011 onward, culminating in the 2018-2020 peace talks. Malkasian lived through much of it, and draws from his own experiences to provide a unique vantage point on the war. Today, the Taliban is the most powerful faction, and sees victory as probable. The ultimate outcome after America leaves is inherently unpredictable given the multitude of actors there, but one thing is sure: the war did not go as America had hoped. Although the al-Qa'eda leader Osama bin Laden was killed and no major attack on the American homeland was carried out after 2001, the United States was unable to end the violence or hand off the war to the Afghan authorities, which could not survive without US military backing. The American War in Afghanistan explains why the war had such a disappointing outcome.Wise and all-encompassing, The American War in Afghanistan provides a truly vivid portrait of the conflict in all of its phases that will remain the authoritative account for years to come.

    Once hailed as “Super K”—the “indispensable man” whose advice has been sought by every president from Kennedy to Obama—he has also been hounded by conspiracy theorists, scouring his every “telcon” for evidence of Machiavellian malfeasance. Yet as Niall Ferguson shows in this 2-volume biography, drawing not only on Kissinger’s hitherto closed private papers but also on documents from more than a hundred archives around the world, the idea of Kissinger as the ruthless arch-realist is based on a profound misunderstanding. The first half of Kissinger’s life is usually skimmed over as a quintessential tale of American ascent: the Jewish refugee from Hitler’s Germany who made it to the White House. But in this first of two volumes, Ferguson shows that what Kissinger achieved before his appointment as Nixon’s national security adviser was astonishing in its own right. Toiling as a teen in a New York factory, he studied indefatigably at night. He was drafted into the infantry & saw action at the Battle of the Bulge—as well as the liberation of a concentration camp—but ended his army career interrogating Nazis. It was at Harvard that Kissinger found his vocation. Having immersed himself in the philosophy of Kant & the diplomacy of Metternich, he shot to celebrity by arguing for limited nuclear war. Nelson Rockefeller hired him. Kennedy called him to Camelot. Yet Kissinger’s rise was anything but irresistible. Dogged by press gaffes & disappointed by Rocky, Kissinger seemed stuck—until a trip to Vietnam changed everything. The Idealist is the story of one of the most important strategic thinkers America has ever produced. It's also a political Bildungsroman, explaining how “Dr Strangelove” ended up as consigliere to a politician he'd always abhorred. Like Ferguson’s classic 2-volume history of the House of Rothschild, Kissinger sheds new light on an entire era. The essential account of an extraordinary life, it recasts the Cold War world.

    financial system, which had grown far too complex for its own good-and too unregulated for the public good-experienced a perfect storm beginning in 2007. When America's financial structure crumbled, the damage proved to be not only deep, but wide. It took the crisis for the world to discover, to its horror, just how truly interconnected-and fragile-the global financial system is. The second part of the story explains how American and international government intervention kept us from a total meltdown. Many of the U.S. government's actions, particularly the Fed's, were previously unimaginable. And to an amazing-and certainly misunderstood-extent, they worked. The worst did not happen. Blinder offers clear-eyed answers to the questions still before us, even if some of the choices ahead are as divisive as they are unavoidable. After the Music Stopped is an essential history that we cannot afford to forget, because one thing history teaches is that it will happen here again.

    Instead countless banks issued paper money and counterfeiters flourished. This title casts the country's capitalist roots in a startling new light. Readers will recognize the same get-rich-quick spirit that lives on in the 21st century.

    Writing a full two years before Keynes would revolutionize the economics world with the publication of The General Theory, Woolf nevertheless found herself unable to condense her friend's already-extraordinary life into anything less than twenty-five themes, which she jotted down at the opening of her homage: "Politics. Art. Dancing. Letters. Economics. Youth. The Future. Glands. Genealogies. Atlantis. Mortality. Religion. Cambridge. Eton. The Drama. Society. Truth. Pigs. Sussex. The History of England. America. Optimism. Stammer. Old Books. Hume."Keynes was not only an economist, as he is remembered today, but the preeminent anti-authoritarian thinker of the twentieth century, a man who devoted his life to the belief that art and ideas could conquer war and deprivation. A moral philosopher, political theorist, and statesman, Keynes immersed himself in a creative milieu filled with ballerinas and literary icons as he developed his own innovative and at times radical thought, reinventing Enlightenment liberalism for the harrowing crises of his day--which included two world wars and an economic collapse that challenged the legitimacy of democratic government itself. The Price of Peace follows Keynes from intimate turn-of-the-century parties in London's riotous Bloomsbury art scene to the fevered negotiations in Paris that shaped the Treaty of Versailles, through stock market crashes and currency crises to diplomatic breakthroughs in the mountains of New Hampshire and wartime ballet openings at Covent Garden.In this riveting biography, veteran journalist Zachary D. Carter unearths the lost legacy of one of history's most important minds. John Maynard Keynes's vibrant, deeply human vision of democracy, art, and the good life has been obscured by technical debates, but in The Price of Peace, Carter revives a forgotten set of ideas with the power to reinvent national government and reframe the principles of international diplomacy in our own time.

     "History at its best." -Zbigniew Brzezinski "Gripping, well researched, and thought-provoking, with many lessons for today." -Henry Kissinger "Captures the drama [with] the 'You are there' storytelling skills of a journalist and the analytical skills of the political scientist." - General Brent Scowcroft In June 1961, Nikita Khrushchev called it "the most dangerous place on earth." He knew what he was talking about. Much has been written about the Cuban Missile Crisis a year later, but the Berlin Crisis of 1961 was more decisive in shaping the Cold War-and more perilous. For the first time in history, American and Soviet fighting men and tanks stood arrayed against each other, only yards apart. One mistake, one overzealous commander-and the trip wire would be sprung for a war that would go nuclear in a heartbeat. On one side was a young, untested U.S. president still reeling from the Bay of Pigs disaster. On the other, a Soviet premier hemmed in by the Chinese, the East Germans, and hard-liners in his own government. Neither really understood the other, both tried cynically to manipulate events. And so, week by week, the dangers grew. Based on a wealth of new documents and interviews, filled with fresh- sometimes startling-insights, written with immediacy and drama, "Berlin 1961" is a masterly look at key events of the twentieth century, with powerful applications to these early years of the twenty- first.