Overview
ENGLISH DESCRIPTION
An exceptional testament to the struggle to keep the world economy afloat during the Great Recession. In 2006, Ben S. Bernanke was named chairman of the U.S. Federal Reserve, the unexpected culmination of a personal trip that had started in a small town in South Carolina, experienced an interlude strewn with prestigious academic positions and seemed to have culminated in several years of service in the corridors of power in Washington. There was not much time for celebrations. In 2007, the housing bubble burst, exposing the hidden vulnerabilities of the global financial system and bringing it to the brink of catastrophe. Bernanke and his team at the Federal Reserve had to contend with the implosion of the investment bank Bear Sterns, the bailout of the insurance giant AIG, and the ensuing financial contagion. As head of the US central bank, Bernanke lived with two different presidents of the government, worked in the crossfire of a Congress against it and withstood the pressure of public opinion outraged by Wall Street's behaviour. In the end, the agency he presided, side by side with the Treasury Department, managed to stabilize the faltering financial system, avoiding a collapse of unimaginable scale. A portrait, written from the inside, of the way in which American and, by contagion, world politics faced the greatest crisis since the Great Depression.
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