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Title: The Fed : The Inside Story of How the World's Most Powerful Financial Institution Drives the Markets by Martin Mayer ISBN: 0-684-84740-X Publisher: Free Press Pub. Date: 11 June, 2001 Format: Hardcover Volumes: 1 List Price(USD): $27.50 |
Average Customer Rating: 2.2 (10 reviews)
Rating: 3
Summary: Not the Best Book on the Subject
Comment: "The Fed" by Martin Mayer is a look into how the Federal Reserve System has not only evolved since its founding in 1913 but also how it has reacted to changes in America's financial system, changes that have sometimes been wrought due to the Fed's own decisions.
Mayer is primarily a financial journalist who prides himself on personally knowing all the key players. Mayer has been actively involved in the formulation of the financial system that he reports on by having served on various Congressional and Presidential committees.
Mayer's knowledge of the Fed and its machinizations is first-rate; however, I felt that there should have been more output from this book. Mayer gives the reader lots of input on Fed decision making and the way in which it tries to influence the economy today. He even discusses the implications of certain decisions the Fed has made and not made regarding, primarily, bank supervision.
Those implications however are given no rational or backing. Mayer proposes them as if the reader should just accept them because they come from such an excellent source on the subject. I've never been one to blindly accept the determinations of others just because they are so-called experts.
As history, this isn't even all that extensive. Mayer would have done better if he had made this a history of the Fed instead of the limited policy discussion that it is. "The Fed" is certainly not the weakest book on its subject; but, it definitely is not the strongest.
Rating: 1
Summary: Badly written, packed with information
Comment: I bought this book in a bookstore, thinking it looked interesting. The testimonials seemed convincing. I wish I'd read these reviews first. Although the book clearly offers a wealth of information, I found it annoying to read. The author repeatedly interjects long parenthetical expressions in the middle of his sentences. By the time you reach the end of the sentence, it's hard to remember what he was trying to say. At times, it struck me as a stream-of-consciousness approach, or just laziness on the part of his editor. The problem isn't that the material is challenging. I have an MBA and expect to be challenged in books about banking and finance. But I expect far better writing than this. Mr. Mayer likely is a superb reporter and researcher, but in my view, his writing needs a heavier hand from an editor. I only read about 30 pages before tossing the book in the trash can. I hope to remember not to buy any more of his books by accident.
Rating: 2
Summary: Misleading Title
Comment: My main problem with this book is that the title really should have been "A Detailed History of The Fed." I think I was looking more for what the title implied, a book with a focus almost exclusively on modern times, and concentrating on the relationship between Fed actions and economic reactions. If this is what you, too, are seeking, don't read this book.
A secondary problem is that the recitation of Fed history that comprises nearly the entire book is almost unbearably dry.
This book's main (only?) good point is its detail. I personally found the amount of detail excessive and boring, but I can't fault the author for completion: the history that this book contains is broad and well-researched.
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Title: The Bankers: The Next Generation by Martin Mayer ISBN: 0452272645 Publisher: Penguin USA (Paper) Pub. Date: May, 1998 List Price(USD): $18.00 |
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Title: Secrets of the Temple: How the Federal Reserve Runs the Country by William Greider ISBN: 0671675567 Publisher: Touchstone Books Pub. Date: 15 January, 1989 List Price(USD): $19.00 |
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Title: The Complete Idiot's Guide to the Federal Reserve by Lita Epstein, Preston Martin ISBN: 0028643232 Publisher: Alpha Books Pub. Date: 04 March, 2003 List Price(USD): $18.95 |
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Title: The Dollar Crisis: Causes, Consequences, Cures by Richard Duncan ISBN: 0470821027 Publisher: John Wiley & Sons Pub. Date: 25 July, 2003 List Price(USD): $29.95 |
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Title: The Bankers by Martin Mayer ISBN: 0679400109 Publisher: David McKay Co Pub. Date: January, 1975 List Price(USD): $15.00 |
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