Can knowing how a financial crisis happened keep it from happening again? Sheila Bair, the former chairman ofthe FDIC, explains howthe Great Recession impacted families on a personal level in this easy-to-understand book “that puts a human face on the economic crisis” (School Library Journal).
In 2008, America went through a terrible financial crisis, and we are still suffering the consequences. Families losttheir homes and struggled to pay for food and medicine. Businesses didn’t have money to buy equipment or hire and pay workers. Millions of people losttheir jobs and their life savings. More than 100,000 businesses went bankrupt.
As the former head ofthe Federal Deposit Insurance Corporation, Sheila Bair worked to protect families during the crisis and keep their bank deposits safe. In TheBulliesofWallStreet, she describes the many ways in which a broken system led families into financial trouble, and also explains the decisions being made at the time by the most powerful people in the country—from CEOs of multinational banks, to heads of government regulatory committees—that led to the recession.