The Virtually Of Import Majority I've Read This Year

Larry Ball carefully looks at 1 aspect of the fiscal crisis--the collapse of Lehman Brothers--and documents that the conventional narrative, every bit told past times many of the leading policymakers who were there, is false. According to Ball, the Fed failed to human activity every bit lender of terminal resort when it could have, making the fiscal crisis worse than necessary. In other words, at a crucial moment,  Bernanke too fellowship did non summon the courage to act.

For serious students of macroeconomic history, a must read.

Update: Here is my Times column on the book.
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