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), Washington Mutual, Citigroup (C), Countrywide, Bank of America (BAC), 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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