Confidence Men

  • by Ron Suskind
  • Narrated by James Lurie
  • 22 hrs and 4 mins
  • Unabridged Audiobook

Publisher's Summary

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 introduces 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.


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Customer Reviews

Most Helpful

another uneducated narrator

The narrator sounds like he should be narrating a detective story or The Twilight Zone. That actually is kind of nice, but he neglected to learn how to pronounce key terms such as "tranche" and AXA and keeps confusing "CDSs" [as in credit default swaps--complex and risky derivative insturments] for CDs [as in either certificates of deposit or the things music and/or data are recorded on].

The story is interesting, though not novel.
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- shari

Insightful, but...

While a little tedious at times, this account of Obama’s first 1000 days (give or take) provides insight into why this great orator, who offered a vision of a better America, is an ineffectual President. The extent to which Obama was both supported and advised by the same Wall Street players that got rich while helping to create the financial meltdown is both insightful and disturbing.

I was disappointed to not hear about the influence organized labor played with this President, but this is a story about Obama and Wall Street. The author has some good connections into the inner workings of the administration, but does not seem to have a grasp of how the failures of financial regulation caused the very problems they were supposed to prevent.

The story line gets lost a bit when the author tries to explain the financial meltdown in terms of evil bankers versus virtuous regulators. He meanders into long stories describing how bankers gave into their craving for wealth and power, setting in motion a series of events that almost destroyed the economy.

The story is much more complex than that, as is implied when Lawrence Summers warns Geithner to “never admit you were wrong”. As we all know, Summers was part of the administration that relaxed financial regulation a decade earlier.

I recently listened to bios on FDR, Truman, JFK. I will go out on a limb to say Obama shares FDR’s lack of understanding of what to do, but lacked his ability to give people confidence in what he was doing. Obama and Truman both came from political machines, but Truman did a great job addressing the challenges in the post-war period, while Obama worries about getting re-elected. After listening to “1961” and “Brilliant Disaster”, I conclude Obama and JFK are comparable in many ways – marvelous at campaigning, dismal at leading.
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- Ray "Say something about yourself!"

Book Details

  • Release Date: 09-20-2011
  • Publisher: HarperAudio