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For me, this book has it all: law, finance, business management, government, all wrapped in a contemporary, well-told tale of high drama. We can't prove the counter-factual, such as, what Detroit might be like now WITHOUT this, given how bad it is anyway, but I'm glad the collapse of these industries remained counter-factual, rather than factual. The author is very gifted at seamlessly explaining some pretty complex stuff, all in a story so smooth one might be forgiven for not noticing there is a big timely education here. Our corporations and institutions need plenty of restructuring, and this is a definitive story of it happening in real time in the unwieldy corridors of government and rather sclerotic big business, in the face of crisis. Maybe in some instances crisis is a mother of invention. This is a tutorial on the remaking of 21st century corporate and governmental America, with global lessons too.
The biggest shock for me: the level of competence of top financial officials in these corporations. What, their spreadsheets don't even work? They lacked familiarity with fundamental concepts and formulas? Wow. Yet to the author's credit, we get enough backstory and a feel for the culture to understand how such things could come about. I can only wish our political discourse was debating the merits of things like this, rather than the absurdly misleading cartoon drivel out there right now. Two thumbs way up.
1 of 1 people found this review helpful
Steven Rattner has provided Audible fans an inside look at the government’s bailout of Chrysler and General Motors in “Overhaul.” This book readily expands on issues covered by Paul Ingrassia’s "Crash Course: The American Automobile Industry's Road from Glory to Disaster" Both are well worth the time of anyone interested in the topic (or who is helping to pay the bills for these manufacturers for that matter). The book is so good my last comments should not keep anyone away. First, this is really a memoir detailing Rattner’s involvement in the bailout process. Nonetheless, Rattner allows the listener to join him on a daily basis and see what he has seen. We learn a lot from him. Secondly, Rattner is pro-Obama, but who is totally “fair and balanced” anyway? Settle in and hear what Rattner has to say about how the government works, the “best and the brightest” behave, and the GM mess. The book is well written and Joe Barrett does a terrific job at narration. Put your earlobes in their hands and enjoy.
3 of 5 people found this review helpful