NEW YORK (Real Money) -- After you read Stress Test by former Treasury Secretary Tim Geithner, you may never want to buy a bank stock again. That may be my chief takeaway from this newly indispensable book about the financial crises that plunged this country into the Great Recession. I certainly intend to ask Tim, when I sit down with him at the Barnes & Noble in Union Square after Mad Money tonight, why anyone would even contemplate investing in one of the behemoth banks that were so integral to the near-collapse of the U.S. -- not just the banking system, but the whole country.
If you are as enthralled with the turmoil of that period as I am, seeking every nuance of what went wrong, who went wrong and what was done to stem the collapse and what could have been done better, then the aptly-named Stress Test will become your quick-turning bedside reader.
They are all here: Bear Stearns, Lehman Brothers, AIG (AIG - Get Report), Washington Mutual, Citigroup (C - Get Report), Countrywide, Bank of America (BAC - Get Report), Merrill Lynch, Wachovia, Fannie Mae (FNMA), Freddie Mac (FMCC). They're depicted not so much in living color but in stark reality -- as the true ne'erdowells of the era.
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