131 Meetings at the White House described by two sources in the meetings; notes.
132 “There was no average day”: Interview with Ed Lazear, who shared his recollections of the weeks following the Lehman bankruptcy, February 25, 2010; transcript.
136 the “intent was to get at the root”: Author interview with Keith Hennessey on Closing Bell, September 19, 2008; www.cnbc.com.
136 Hank Paulson’s testimony before the House Committee on Financial Services, November 18, 2008.
137 “Unless the Treasury decides”: Interview with Ken Rogoff, Charles Schumer, and Andrew Cuomo, September 18, 2008; www.cnbc.com.
137 “I have enormous confidence”: Interview with Amar Bhidé, January 7, 2009; transcript.
139 “We still have heavy regulations”: Author interview with Bill Clinton, September 21, 2008; partially published in my BusinessWeek column “Facetime with Maria Bartiromo”; transcript.
141 “Yes, I found a flaw”: Alan Greenspan’s testimony October 2008, before the House Committee on Oversight and Government Reform.
142 “We obviously knew”: White House official on the auto industry; notes.
142 “Whatever the reasons”: Treasury official on the auto industry; notes.
143 “These are people”: Author interview with Barney Frank.
144 “I’d like to see them”: Author interview with Jim Rogers on TARP, February 2009.
145 “Do you worry”: Author interview with Andrew Cuomo, March 17, 2009; on Closing Bell, transcript.
146 “In the last twelve months”: This story was told to me by a former executive of Lehman Brothers.
CHAPTER EIGHT: THE AFTERSHOCKS
148 “It was getting”: Author interview with Robert Steel, February 24, 2010; transcript.
150 “We just didn’t make”: Author interview with Dick Kovacevich on Closing Bell, October 3, 2008; www.cnbc.com.
150 “I know it’s a better deal”: Warren Buffett on CNBC, October 3, 2008; www.cnbc.com.
151 “Where are we”: Author interview with Hank Paulson, on Closing Bell, January 12, 2009; transcript.
154 “The losses began”: Author interview with Ken Lewis, February 10, 2009; transcript.
156 “Merrill paid out”: Author interview with John Thain, January 26, 2009; transcript.
158 “Clearly, the losses”: Author interview with Ken Lewis, February 10, 2009; transcript.
159 “We believe”: Author interview with Andrew Cuomo.
160 “I was in Charlotte”: Author interview with Brian Moynihan, December 18, 2009; transcript.
161 “In six months”: Paulson told me this privately during a commercial break in our January 12, 2009, interview.
162 “We discussed the promise”: Author interview with Prince Alwaleed, April 3, 2006, as recorded in my BusinessWeek column “Facetime with Maria Bartiromo.”
163 “Frankly speaking”: Author interview with Prince Alwaleed, November 24, 2008; transcript.
163 “How much heat”: Author interview with Vikram Pandit, December 12, 2007; transcript.
164 “They all took”: Author interview with Jim Rogers, February 2009; transcript.
164 A year after the weekend that changed Wall Street: a description of my television special, One Year Later: Reflections from the Street; www.cnbc.com.
165 “It has been”: Author interview with Mohamed El-Erian, March 15, 2010; transcript.
166 “Dick Fuld should publicly”: Author interview with Larry McDonald, April 2008; transcript.
167 Description of House Financial Services Committee Lehman Brothers autopsy: Fuld testimony, April 20, 2010.
168 Discussion of “Repo 105-type issues”: Author interview with Mary Schapiro, March 29, 2010; transcript.
169 “The key point”: Author interview with Tim Geithner, March 29, 2010; transcript.
CHAPTER NINE: A GREEK TRAGEDY
172 Statistics about foreign ownership of U.S. debt: Council on Foreign Relations report, June 22, 2010.
172 “Russian officials had [earlier] made”: Henry Paulson, On the Brink: Inside the Race to Stop the Collapse of the Financial System (New York: Business Plus, 2010).
173 “Government money”: Ken Rogoff’s statements are in my panel discussion at the World Economic Forum in Davos, titled “The Next Global Crisis,” January 2010; tape.
176 “The American people”: Interview with Bill Clinton, May 2010; transcript.
176 It was questionable if even in the midst of failure Greece was getting the message: Interview with Giorgos Papaconstantinou, March 19, 2010 (transcript).
177 “It’s like putting”: Interview with Nassim Taleb, Wall Street Journal Report, June 18, 2010.
177 “I’m sorry Greece”: Author interview with Ace Greenberg, June 11, 2010; portions aired on Wall Street Journal Report with Maria Bartiromo; transcript.
178 “One thing that is clear”: Interview with Axel Weber, April 28, 2010; transcript.
179 Bloomberg report on Goldman Sachs and Greece, February 17, 2010.
180 “The Guys from ‘Government Sachs’”: New York Times, October 17, 2008.
181 “doing God’s work”: John Arlidge, “I’m Doing God’s Work. Meet Mr. Goldman Sachs,” Times (London), November 8, 2009. Blankfein also made the comment “I know I could slit my wrists and people would cheer.”
184 “Let me just say point-blank”: Author interview with Mary Schapiro, June 14, 2010; transcript.
186 Description of Goldman Sachs testimony: April 16, 2010, the Senate Permanent Subcommittee on Investigations, chaired by Senator Carl Levin; media reports.
CHAPTER TEN: CAPITALISM IN THE BALANCE
190 “For so long”: Author interview with Bob Hormats, June 18, 2010; transcript.
193 “Where has the TARP money gone?”: Author interview with Elizabeth Warren, March 29, 2010; transcript.
193 Conversation about the merits of TARP and the stimulus: Informal author interview with Alan Greenspan, March 29, 2010; notes.
194 In March I traveled to Washington and met with Barney Frank: Author interview with Barney Frank, March 29, 2010; notes.
198 “You’re not leaving this room”: Author interview with Mary Schapiro, June 14, 2010; transcript.
201 “So now we’re going”: Author interview with Richard Bove, June 1, 2010; transcript.
201 “This provision”: A financial industry lawyer speaking on background, in an interview June 3, 2010; transcript.
202 “I’m concerned about the Basel rules”: Author interview with Vikram Pandit, June 18, 2010; transcript.
203 “How will the SEC manage”: Author conversation with a former chairman of the SEC, unattributed; notes.
203 “We do need more people”: Author interview with Mary Schapiro, June 14, 2010; transcript.
204 My panel at the Aspen Ideas Festival, July 9, 2010, was titled “Views on America’s Economy: At Home and Abroad.”
INDEX
The page numbers in this index refer to the printed version of this book. To find the corresponding locations in the text of this digital version, please use the “search” function on your e-reader. Note that not all terms may be searchable.
Abacus 2007-ACI, 182
Abdullah, king of Saudi Arabia, 162
Accenture, 197
Ackermann, Josef, 13
adjustable rate mortgages (ARMs),
