Confidence Men

Wall Street, Washington, and the Education of a President

De: Ron Suskind

Narrado por: James Lurie

The hidden history of Wall Street and the White House comes down to a single, powerful, quintessentially American concept: confidence. Both centers of power, tapping brazen innovations over the past three decades, learned how to manufacture it.

Until August 2007, when that confidence finally began to crumble.

In this gripping and brilliantly reported book, Ron Suskind tells the story of what happened next, as Wall Street struggled to save itself while a man with little experience and soaring rhetoric emerged from obscurity to usher in “a new era of responsibility.” It is a story that follows the journey of Barack Obama, who rose as the country fell, and offers the first full portrait of his tumultuous presidency.

Wall Street found that straying from long-standing principles of transparency, accountability, and fair dealing opened a path to stunning profits. Obama’s determination to reverse that trend was essential to his ascendance, especially when Wall Street collapsed during the fall of an election year and the two candidates could audition for the presidency by responding to a national crisis. But as he stood on the stage in Grant Park, a shudder went through Barack Obama. He would now have to command Washington, tame New York, and rescue the economy in the first real management job of his life.

The new president surrounded himself with a team of seasoned players—like Rahm Emanuel, Larry Summers, and Tim Geithner—who had served a different president in a different time. As the nation’s crises deepened, Obama’s deputies often ignored the president’s decisions—“to protect him from himself”—while they fought to seize control of a rudderless White House. Bitter disputes—between men and women, policy and politics—ruled the day. The result was an administration that found itself overtaken by events as, year to year, Obama struggled to grow into the world’s toughest job and, in desperation, take control of his own administration.

Pulitzer Prize-winning journalist Ron Suskind intro-duces readers to an ensemble cast, from the titans of high finance to a new generation of reformers, from petulant congressmen and acerbic lobbyists to a tight circle of White House advisers—and, ultimately, to the president himself, as you’ve never before seen him. Based on hundreds of interviews and filled with piercing insights and startling disclosures, Confidence Men brings into focus the collusion and conflict between the nation’s two capitals—New York and Washington, one of private gain, the other of public purpose—in defining confidence and, thereby, charting America’s future.

Fabulous book

This is the best book I have read on the subject of what went on behind the scenes during the first two years of Obama's presidency, what happened with healthcare, the economy and why his popularity flagged. The narration by James Lurie is just superb, I have listened to it four times and always hear something new. It is very informative and entertaining.

It's Tough Being President

This book gives plenty of insight into the Obama White House. I pray that he can develop the leadership wisdom to take better advantage of his advisors over the next two years.

Why we should hate Bankers, and Govement failed

Would you recommend this audiobook to a friend? If so, why?

Inside story on how the Greedy Bankers took us down the road of a great depression. We also find out that neither Dem’s nor Repub's didn’t help. Makes you want to hold the financial leaders for Treason. Terrorist are a threat, but these guys can do a lot more damage.. and faster!

Who was your favorite character and why?

None...

Was this a book you wanted to listen to all in one sitting?

No--Got too mad

Any additional comments?

Great book! I learned I didn't want to know what I now know

EXCEPTIONAL VIEWS INTO THE INSIDE

This is a no apologies approach to descriptions of how the administration dealt with the economy when it became clear it would dominate the first few years of the Obama presidency. Obama and his staff members are described, criticized, and praised. If you wonder why certain policy decisions went down the way they did, this will help you to understand.

Obama's economic IQ is low and he's a prideful person who would prefer not to show weakness...especially in front of his staff members. After all he is the President. Unfortunately, his staff didn't have the option of being able to defer the economic decision making until the POTUS had time to get up to speed. As Larry Summers put it to another senior staff member "you realize we're home alone here."

The economic team was poorly organized and suffered from personality conflicts. The roles were not well described, and that delayed policy decisions and made the whole process difficult. Obama sorely needed the skills and experience this team had to offer, but he lacked any real experience of how to lead and or manage these highly qualified specialists. Summers in particular seemed to cause the most friction. He was overbearing, unable to accept responsibility for error and seemed to project an aura of "too bright to fail." Basically, he didn't play well with others.

The banking negotiations were poorly handled. The government was long on leverage, and the bankers knew it. But the government surprised them by not asking for the obvious in return for the money. Same way with the Wall Street crowd. With all the complaining about compensation packages, you would think the Street would have to show some restraint. To the delight of the Street execs, the threat was leveled, but it was all for show. It just didn't have the teeth to stick.

Net net, the book describes how a team of very well intentioned, bright, hard working people try to solve very large, complex and important economic puzzles for the benefit of their country.

An Interesting Read

Would you listen to Confidence Men again? Why?

This is a book well worth your time. You'll see just how connected at the hip our banks, government and Wall Street really are. Ron Suskind is a Democrat and he writes with his Democrat perspective, but he is for the most part even handed. I think he may be a little kinder, more forgiving and definitely more understanding of these people than I am, but he is fair.

He seems to conclude that the man who ran for president (Barack Obama) just has not delivered. Because he had higher expectations and hopes for Obama in the begining--and more than I ever had--he probably had trouble bringing this book to light.

So, while I don't agree with all of Mr. Suskind's beliefs and premises regarding the size and role of government and philosophy of economics, I appreciate how much he has put before the American people in a good read.