Free Essay

Book Review

In: Historical Events

Submitted By karan6f
Words 2523
Pages 11
Book Review: Andrew Ross Sorkin's Too Big To Fail

The financial struggles of 2008 led to myriad books on why the crack-up occurred, and many have been reviewed here. Andrew Ross Sorkin, a writer for the New York Times, approaches what happened differently. He has written a very interesting behind-the-scenes account of the people within government and finance who saw the crisis up close.
For those interested in what went down behind closed doors, Sorkin's “ Too Big To Fail” is essential. Thanks to his global access to the individuals involved, the interested reader can expand his or her knowledge about the events behind the events.
Too Big To Fail begins in riveting fashion at J.P. Morgan CEO Jamie Dimon's Park Avenue apartment the day before the collapse of Lehman Brothers. Having spent part of the previous evening at the New York Fed, Dimon knew better than most what was ahead, and in a conference call with his top lieutenants, Dimon dismissed the view - one held by Lehman CEO Richard Fuld no less - that the prominent investment bank would be saved by Washington.
Dimon's take was "That's wishful thinking. There is no way, in my opinion, that Washington is going to bail out an investment bank. Nor should they (my emphasis)." Instead, Dimon told the listeners on the call that "We need to prepare right now for Lehman Brothers filing. And for Merrill Lynch filing. And for AIG filing. And for Morgan Stanley filing." Before each company mention Dimon paused, then paused the longest ahead of his last warning, that his employees should prepare for the potential bankruptcy of Goldman Sachs.
With the stage set, Sorkin then takes readers on a fascinating journey into a financial crisis that will not soon be forgotten. Indeed, by the end of the book the makeup of the symbol that is Wall Street had changed profoundly, and while there existed five major investment banks in March of 2008, by October two had collapsed, one had been swallowed, and the two remaining morphed into bank holding companies in order to avoid bankruptcy themselves.
Too Big To Fail is to a high degree a book about people and their actions under fire, so it's probably best to begin with Hank Paulson, the U.S. Treasury Secretary amid the crisis. Full disclosure, I worked at Goldman Sachs when Paulson was second in command, and was also there once he took control ahead of the firm's IPO.
Most interesting to this former employee was a talk Paulson gave to the summer associates in the equity division during the summer of 1997. Asked what kept him up at night, Paulson quickly responded that in a firm of 10,000 there always existed the possibility that one or more bad apples would make a mistake that would take the firm down.
This digression is hopefully worthwhile in that Paulson's point was that investment banks had and have an ephemeral quality to them. In that sense it's no surprise that when told by Dimon that he'd upped the offer for the shares of bankrupt Bear Stearns to $10 in the spring of 2008 that Paulson said, "That makes me want to vomit."
Strongly of the view - at least at the time - that poorly run investment banks should be allowed to fail, Paulson at least initially believed like Dimon that Washington shouldn't be saving financial firms on the backs of taxpayers. That Paulson later changed his tune strikes this reader as unfortunate. If country economies can recover from the devastation that is war, surely they can weather the death of one or many investment banks that are nothing more than a collection of talent.
As is well known now, Paulson was willing to let Lehman fail, but as Sorkin recounts in vivid detail, in the months leading up to its bankruptcy, Paulson grew closer to his former competitor at Lehman in Dick Fuld, and was in regular contact with him, pushing him to find capital or a buyer so that what happened to Bear would not happen to Lehman Brothers. It is through Lehman that Sorkin dispels a lot of long-held myths about Wall Street.
For one, there remains the belief that investment banks were eager to package all manner of toxic mortgages into securities given the knowledge that they could sell these assets to others. But as Sorkin notes early on, "it can't be denied that these institutions ‘ate their own cooking' - in fact they gorged on it, buying mountains of mortgage-backed assets from one another." Regarding the view that publicly held investment banks necessarily took risks with the "money of others", Sorkin points out that Lehman employees owned 1/3rd of the firm's shares.
Lehman's mistake was one of asset mismatch. Austrian School economist Ludwig von Mises long ago observed that the failure to match the term structure of assets to liabilities would be the death of financial firms, and in Lehman's case, the increasingly toxic long-term assets on its books did not jibe well with the overnight funding it required in order to remain a going concern.
Rather than acknowledge this, Lehman CEO Dick Fuld took to doing what troubled company heads often do in times of distress: he blamed short sellers for having sleuthed how dire the firm's circumstances actually were. No doubt Fuld loved the investment bank whose death he oversaw, but he doesn't come off well in Sorkin's account. Instead, as the pressure grew, he appeared increasingly delusional, particularly during a meeting with potential Korean investors in which he talked up the firm's real estate holdings despite broad knowledge that they were in freefall.
Where it gets interesting is Sorkin's recount of the pushy nature of Tim Geithner's New York Fed, along with Paulson's Treasury when it came to Lehman filing for bankruptcy. While SEC Chairman Christopher Cox wasn't sure if Lehman could be forced to file, let alone if it was a good idea, Geithner and Paulson seemingly wanted it done with. Sorkin's book is not an analytical one, but given his proximity to the various personages involved with Lehman's decline, it would have been interesting to this reader if he'd offered his own thoughts into why Paulson and Geithner were so strident.
Notably, as Lehman's death drew nearer, Geithner asked for Fuld's resignation from the New York Fed's board, and as Sorkin noted, this seemed to serve as one signal that a bailout was in the works from the same entity, and that it would look improper if Fuld remained on its board. Added to that, most media accounts pointed to a bailout, and even former Shearson Lehman CEO Peter Cohen, according to Sorkin, kept his hedge fund's capital inside Lehman.
This looms large in that while Sorkin didn't get into it, it bears reminding that the post-Lehman frenzy in the markets didn't have to be. Indeed, the reason its collapse created a market panic had to do with the fact that investors suffered a lack of information about what the government would do; the latter always and everywhere the driver of panics.
Instead, had Bear Stearns been allowed to die, various market actors would not have expected Lehman to be saved, and they would have prepared for its demise well ahead of September of 2008. To this day Lehman's collapse is viewed as the "game changer" (to quote George Soros) in the crisis, but it's fair to suggest that absent the initial, and very mistaken intervention in Bear's demise, Lehman's bankruptcy would have been a minor blip in the natural, economy enhancing process whereby the assets of failed firms are swallowed by their more healthy competitors.
Throughout Too Big Too Fail Sorkin wrote of bank CEOs wanting a "Jamie deal"; as in they would buy a failing entity if they could be given terms similar to what J.P. Morgan received when Bear was going under. This expectation that the Fed would take a failed entity's toxic assets onto its balance sheet made finding buyers for future gasping banks far more difficult. Governments always distort, and they rarely improve things.
Perhaps most scary about the Lehman debacle is how it seemingly changed Paulson. Known previously for at least being somewhat in favor of free markets, Sorkin's excellent reporting reveals a Treasury secretary who, in the middle of the Lehman frenzy, told Bank of America Chairman Ken Lewis that the Lehman sale was "out of Dick's hands." As Sorkin put it, Paulson made plain to Lewis that "You can negotiate directly with me." A nominally free market type went interventionist, this evolution not a good one.
And to a room full of Wall Street eminences, Paulson made plain that "We will remember anyone who is not seen as helpful." Awful as the unconstitutional imposition of TARP was, Paulson's chilling countenance makes it understandable that the various bank CEOs would take TARP money whether they needed it or not. Government is about force in the end, and it becomes apparent in Too Big To Fail that Paulson was ready to make life miserable for those who didn't follow his orders. Scary stuff to say the least.
To see why more clearly, it's important to consider how TARP impacted J.P. Morgan. Jamie Dimon perhaps comes off best in the book, and when Paulson shoved TARP down the collective throats of the bank CEOs, Dimon acknowledged to his board that "This is asymmetrically bad for JP Morgan." Translated, it is through the failure of the weak that the strong can grow, and Morgan could have grown from the necessary failures of its competitors. But perhaps fearful of what Paulson, Bernanke and Geithner could do to his firm if he didn't cooperate, Dimon didn't argue even though J.P. Morgan would have profited from the demise of others.
Easily the book's best scene involved Morgan Stanley CEO John Mack. Desperately trying to save his firm through the accession of capital from Japan, Mack suffered regular calls from Bernanke, Paulson and Geithner in which they pushed him to sell his firm for anything, including $1 per share.
Very frustrated, Mack eventually responded to all three with, "Let me ask you a question: Do you think this is good public policy? There are thirty-five thousand jobs that have been lost in this city between AIG, Lehman, Bear Stearns, and just layoffs. And you're telling me that the right thing to do is to take forty-five thousand to fifty-thousand people, put them in play, and have twenty thousand jobs disappear. I don't see how that's good public policy." Further on, Mack happily refused one of Geithner's calls, telling his assistant to tell Geithner "to get fucked. I'm trying to save my firm."
Sure enough, Geithner does not come off well in the book. Despite having never achieved anything of discernable importance in his life, Geithner's apparent skill has been to successfully navigate the world's government-sponsored economic bureaucracy. This has doubtless given him a false sense of confidence in that as Sorkin noted, Geithner took to regularly "instructing" the far more accomplished Wall Street minds on how to do things.
As for Bernanke, his proverbial "do you know who I am" moment occurred one weekend with Mack. The latter, once again trying to save his company, was told by the aforementioned triumvirate that a resolution of Morgan Stanley's problems was essential ahead of the following Monday when stock markets would reopen. Bernanke told him, "You don't see what we see", which quite simply screams the governmental hubris that the U.S. economy continues to suffer.
And as a self-proclaimed expert on the Great Depression, Sorkin reports that Bernanke naturally trotted out his tired line about his alleged expertise, and in a meeting with House Speaker Nancy Pelosi, observed that "if we don't act in a big way, you can expect another great depression, and this time it is going to be far, far worse." That the collapse of financial institutions during the ‘30s could in no way have caused a decade-long downturn never seemed to concern Bernanke, not to mention that by 2008, 80% of finance occurred outside the banking system.
To our falsely proud Fed Chairman, bank failures caused the ‘30s no matter the evidence, and if the economy were happily cleansed this time around of non-economic banking practices, much the same would occur again in his analysis. It's seemingly never occurred to Bernanke that the very government intervention that he espoused two years ago was at the heart of the ‘30s decline, and that if our hardships continue, we can expect another repeat. Bernanke believes his illogic, believed it two years ago, and we're all paying for it.
Paulson should not be spared criticism here either in that he bleated "heaven help us all" absent TARP. Mildly sentient minds at the time disagreed, that failures show capitalism isworking, but convinced that Congress and the voters were wrong about the need for the federal government to essentially nationalize our banking system, Paulson bought into Neel Kashkari's line that to ram an unwanted bailout bill through Congress, "We've got to scare the shit out of the [Congressional] staff."
Disagreements with the author were minor in that the book, rather than an analysis of the crisis, was mostly a retelling, and a great one at that. Still, early on Sorkin wrote of a financial calamity that "would definitely shatter some of the most cherished principles of capitalism." Nice rhetoric for sure, but when the most heavily regulated sector (banking) in the economy fails for doing what Washington wanted it to through bad loans to those with bad credit, it's hard to blame capitalism. In a capitalist system based on profit there would be no social lending, let alone government bailouts of those who did lend without profits in mind.
Sorkin also promoted the widely held - and false - view that Fannie Mae and Freddie Mac "had been the engine of the real estate boom." That's an easy assumption, but property spiked in places like England and Canada where home loans are hard to get (particularly Canada), there are no mortgage interest deductions for home loans, and there are no Fannies and Freddies.
The weak dollar promoted by the Bush Treasury remains the elephant in the room when it comes to the rush to housing this past decade, but analysts and historians continue to ignore it. Simply put, weak currencies were a factor in every property boom of the 20th century, and they explain what just happened. With the dollar in decline beginning in 2001, monetary authorities globally followed our lead, and assets like housing least vulnerable to currency debasement were the predictable and inevitable beneficiary around the world.
All that said, the genius of Andrew Ross Sorkin's Too Big To Fail is its up close reporting that takes the reader inside the minds of the individuals involved in the greatest financial story of modern times. I found the book hard to put down, and highly recommend it to those who want a better sense of what happened not so long ago.

Similar Documents

Premium Essay

Book Review

...Even though the book was first published almost a decade ago, it is still relevant today. The perspectives offered in the book are based on proven success of world class brands as told by top executives writes Tom Sitati in this review Brand Warriors. “Corporate Leaders Share their Winning Strategies”. This phrase that features prominently on the cover of the book, Brand Warriors, edited by Fiona Gilmore is an apt summary of what the book is about. Even though the book was first published almost a decade ago, it is still relevant today. The perspectives offered in the book are based on proven success of world class brands as told by top executives. It is said that experience is the best teacher but with a book like Brand Warriors, which is a collection of brand triumphs and tribulations, your brand needn’t experience everything to get ahead. The book is rich with experiences every brand custodian would do well to take note of. Brand Warriors takes the reader through seventeen brands, from ASDA, the UK superstore to the Vodafone Group, a global market leader in mobile telephony.   Contributors to this book are of high profile in the corporate world. In the current brand conscious world, this is most appropriate as brands are no longer the preserve of middle level managers but the chief executive. The book has a British bias and despite the lofty positions occupied by all the contributors, I could only recognize Richard Branson.   Fiona Gilmore’s introduction, entitled......

Words: 448 - Pages: 2

Free Essay

Book Review

...Book Review: The Omnivore’s Dilemma Candace Casillo Devry University Professor Johnson 11/09/2012 In part one, Chapters one, two, and three of The Omnivore’s Dilemma, by Michael Pollan takes an in depth look of the history and sources of corn, a family farm in Iowa, and the economic pressures that influence farming and food policies. Part one showcases a captivating enlightening history with many descriptive qualities. Chapters one, two, and three are a perfect start to The Omnivore’s Dilemma, in that they set up the re-occurring theme in the book: the conflict between the way farming should be done, and how economic survival dictates how it is typically done. However, this book might not be as appealing to others as it was to me. The first chapter is a about a particular piece of produce that is all around us: corn. Pollan reveals that on the forty-five thousand items in a supermarket, more than a quarter of them now contain corn in their ingredients. Through some historical analysis of how corn was first used by the Mayans, Pollan explains why corn is such a commanding crop and how its use was transferred to the surrounding colonists. In chapter two, Pollan shares his experience on a family corn farm in Iowa and how corn has changed farming and the landscape in the area. Chapter three is about the grain elevator and how this lowers the value of this particular vegetable, which was once highly praised by the Mayans. Next, we learn that large companies such as......

Words: 582 - Pages: 3

Free Essay

Book Review

...Review of: David D. Freidman’s Law’s Order Chapters: 4. What’s Wrong With the World, Part 2 8. Games, Bargains, Bluffs, and Other Really Hard stuff 9. As Much as Your Life is Worth Abstract This book contains a different style of viewing not only the legal system through the eyes of an economist, but as some may take from it, different ways to perceive the interactions that are encountered daily in life. If there were only one human in the world, he/she could do as he/she pleased. As soon as there enter two, the questions of whose interests and exertions of those interests and how they interact with those of the others’ can cause results that were not always in the desired outcome of one or even both people. Therefore, how should these said interactions be handled? When is it necessary to bring laws into the dealings of any situation and to what degree? This book take on these questions and gives examples that can be interpreted in different ways to give a different view on how and why we may or may not need laws; while leaving enough room for the reader to make their own judgments. Chapter 4: What’s Wrong With the World Part 2. Nothing works Costs are produced by one person and borne by another. This simple statement is simply stating that costs’ are not made by only one person in any given situation. As in the example of the polluter and the person being affected by the pollution; there were choices on both parties to bear costs of being......

Words: 3855 - Pages: 16

Premium Essay

Book Review

...A Book Review Presented to Mrs. Evangeline Arguelles In Partial Fulfillment Of the Subject Requirement In ENGLISH III MERIKA MONJORVA III-Courage 17 October 2012 I. INTRODUCTION The Hunger Games focuses more on Katniss Everdeen’s hardships and struggles for survival. She bravely faces challenges that come in her way, especially when dealing with life and death situations. Moreover, she also realizes that she must be strong and determined as she chooses a difficult path instead of giving up, which demonstrates her will to survive. The Hunger Games is a 2008 Young Adult novel by Suzanne Collins. The story revolves around 16-year-old Katniss Everdeen, who lives in the nation of Panem in North America. The Capitol exercises political control over the rest of the nation. The Hunger Games is an annual event in which tributes aged 12-18 from each of the twelve districts surrounding the capitol are selected by lottery to compete in a live TV Show to death. The Hunger Games is the first book in the ground-breaking Hunger Games Trilogy (New York Times Best Selling Series) followed by Catching Fire (2009) and Mockingjay (2010). Suzanne Collins is an American writer and novelist. Collins was named one of ‘Time Magazine’s Most Influential People of 2010’. The Hunger Games was first published on September 14, 2008. The book had sold 800,000 copies by February 2010. The initial price of the book is $10.99. The aim of this book review is to focus more on the......

Words: 1459 - Pages: 6

Premium Essay

Book Review

...sdfghjklzxcvbnm Book Review Nickel and Dimed and the Working Poor 3/24/2013 NOEL RIOS | Abstract In this book review we were asked to read Nickel and Dimed by Ehrenich and The Working Poor by Shipler. After reading the two books throughout the first half of the semester I would like to answer; the reactions the readings gave to me. What impact did the books have on my thinking? Also describe the experiences of the people that are in the readings closely resembling myself. I would also like to answer what I have learned in how this material impacts social policy and lastly which of the two books I enjoyed the most. Impact (heading) 1. Discuss your reaction to reading these books. My reaction to reading each book was very different for each reading. The Working Poor by Shipler seemed to me to be not as personal to the writer as Nickel and Dimed by Ehrenich was. I understand that The Working Poor was personal as will but the writer was writing about personal stories from other individuals, looking from outside the box and then talking about someone else’s stories with his own words. I would have to say that reading Nickel and Dimed was a lot more interesting and was a bit more personal from the writer’s views. Ms. Ehrenich was willing to get down to the behind the scenes action in her reactions from other people that think she is like everyone else in the workforce. 2. What impact did each book have on your thinking? In Ehrencih book it was hard to......

Words: 2717 - Pages: 11

Premium Essay

Book Review

...Six Disciplines and Secrets to Successful Strategy Execution | Book Review | | Introduction: Gary Harpst was one of the founder and CEO of The Lord’s Business Inc.(TLB), aka Solomon Software, very popular software back in the 80's and early 90's when the PC industry was very young. He grew his business from startup to achieve great success, finally selling the company to Great Plains Software (since purchased by Microsoft) for a hefty sum (Bergin Tim, An Interview with GARY HARPST). Gary’s book, “Six Disciplines Execution Revolution: Solving the One Business Problem That Makes Solving All Other Problems Easier” was published in July 2008. In Six Disciplines Execution Revolution, Harpst details the elements of a complete strategy execution program, explains why it could only have happened now, and clarifies why such a program will become a mainstream requirement for successful small and midsized businesses in the future. Summary: According to Harpst, excellence is the enduring pursuit of balanced strategy and execution. Strategy requires choosing what promises to make to all stakeholders and a roadmap for delivering on those promises. Execution requires getting there, while overcoming unending surprises. Excellence is a journey – not a destination. A business excellence model tells organizations as to how they should operate relative to the two dimensions of strategy and execution. (See figure 1, Exhibit 1) Quadrant I: Strong Strategy/Weak Execution: In this......

Words: 1659 - Pages: 7

Free Essay

Book Review

...which sadly stills lives among inequalities. Harbouring on being slightly monotonous, the book presents a sordid mixture of injustice, corruption and class struggle. Aravind Adiga’s The White Tiger has been a phenomenon which has made Aravind the second youngest writer and only the fourth winner of Man Booker Prize on debut. This has been corroborated with the fact that his book has been on the New York Times bestseller list. About Aravind Adiga Aravind Adiga’s joins the rank of increasingly popular class of Indian-born English writers who have made a mark in literary circles. The White Tiger which was his debut novel won him Man Booker Prize while his second novel Last Man in Tower dwells on an ordinary man’s struggles against the rich and influential. Apart from this he has also written Between the Assassinations, a book of 12 short stories which are interfused to one another. Aravind Adiga has a keen fascination for the liberation of the common man which is reflected in a not so subtle manner from his works. His novels and journalistic experience have made him a keen observer of Indian society’s ethos and culture. Prior to penning The White Tiger Aravind Adiga had written for New Yorker, the Sunday Times, the Financial Times, and the Times of India. Sources http://en.wikipedia.org/wiki/The_White_Tiger http://www.aravindadiga.com/bio/index.shtml http://www.bookbrowse.com/reviews/index.cfm/book_number/2119/the-white-tiger...

Words: 470 - Pages: 2

Premium Essay

Book Review

...Stacey Daly Diego, Run! Book review/evaluation Diego, Run!, written by Deborah Ellis, was released in Australia, In May 2007. The novel takes you on a moving journey; it makes you realise what people’s lives are like and what your life could be like if you lived in drained countries like Bolivia. All the main character, Diego really wants to do is get him and his family out of prison, as this is where he lives with his baby sister and mother. Diego and his family are in the prison because they were wrongly convicted of being in possession of drugs. To earn money for his family, he runs taxi errands for people inside the prison as kids can come and go as they please. Diego makes one mistake, which makes people lose trust to have him as their taxi, he is disappointed in himself and realises he still needs to make an income. Diego then finds himself going into the cocaine pits just hoping he will make the money he is promised from the start. The novel shows us what poverty, child labour and the drug trade can do to your life and just how different life could be. The novel is an easy read, you always know what is going on and sometimes you can predict what is going to happen. The inspiring novel provides some life lessons, like how a third world countries can be the same as a first world country as they are suffering the same things like, poverty and the amount of young people ending up in the drug trade ten times worse. You are shown the effects of peer pressure and how it...

Words: 406 - Pages: 2

Premium Essay

Book Review

...Outline 40 pts Paper 100 pts Assignment Overview You will review and critique one of the short books about change management, identified below. The books are all very quick and easy to read and are readily available through libraries or second hand book sellers online: Who Moved My Cheese. Author: Ken Blanchard. Our Iceberg is Melting. Authors: John Kotter & Holger Rathgeber Fish Sticks. Authors: Stephen C. Lundin, Ph.D., John Christensen and Harry Paul Content Your essay should include: * Title Page * Introduction – Identify the purpose of the book and the key issues addressed in it. * Body of paper 8-12 substantive paragraphs that discuss each of the following…identify key areas where the book you have selected and the textbook for the course align or differ. * The most important information in the book – i.e. what is most crucial to understanding it? * The main inferences or conclusions reached in the book * The key concepts/ideas that the reader needs to understand in the book and how they align or differ from those in the course text. * The main assumptions underlying the author(s) thinking * Is the line of reasoning credible – if so, why? If not, why not? What are the implications of following or not following the suggestions in the book? * The main points of view in the books * Conclusion –add your own opinion of the book and whether or not you believe it is effective in identifying......

Words: 669 - Pages: 3

Free Essay

Book Review

...Test Object Thing(ness) 1. Read this (this thing 1 cm. below) P. J. O’Rourke, the political satirist, reviews in this issue a new book about Starbucks. He told us, in an e-mail exchange, how he brews his own reviews: “I read something I’m reviewing the same way I read other things except more so. That is, I already keep a commonplace book (a file folder, really) for quotations, ideas, information, etc. If I’m going to write a review I mark the work for myself, but besides underlining what interests me I also underline what — as far as I can tell — interested the author. By the time I’m done I have an outline for the review. All I have to do is figure out a smart-aleck lead sentence and a wiseacre ending.”[1] 2. Then read the “How to write a Book Review” article on the very next page. Yes, it is a bit long but the information is really quite good. 3. Over the week go to www.salon.com or to http://www.nytimes.com/pages/books read at least five reviews and then divide them into good and bad reviews. Think about the specific qualities that define the better ones. The article from step two of this process will be helpful at this point. At the end of the day a good book review sees an interesting pattern or spins your understanding of the book in a new and delightful way…and importantly is enjoyable to read (as a writer you need to have fun savaging the book, exploring it, dwelling on it, falling in love with it, etc.). Finally remember that your job is to......

Words: 2230 - Pages: 9

Premium Essay

Book Review

...4-MAT BOOK REVIEW Name Course Date 4-MAT Book Review Abstract In her book, Practicing Greatness, McNeal demonstrates how successful spiritual leaders are devoted consciously to seven spiritual disciplines, customs of mind and heart that profile their character and competence.[1] The book serves as a reminder to the spiritual leaders that they will either self-select into or out of greatness. The seven disciplines distilled by McNeal are; 1. Self-awareness- the most imperative body of information possessed by a leader 2. Self-management- the ability to handle difficult emotions, mental vibrancy, physical well-being, expectations and temptations 3. Self-development-a life commitment to growing and developing one’s strength 4. Mission-enjoying-the consent of upholding the sense of the purpose of God in your life and leadership 5. Decision-making-learning from failure and knowing the aspects of good decision 6. Belonging-the willpower to cultivate relations and to live in the community with other people including one’s family, mentors, friends and followers 7. Aloneness-the premeditated exercise of soul-making solitude and meditation McNeal speaks to leaders and managers on leadership strengths. He endorses a modest philosophy change that can assist the staff members of a church or business evade the problems that arise from people living in an environment that takes advantage of their......

Words: 941 - Pages: 4

Free Essay

Book Reviews

...1. Good Review – The good review I found was on goodreads.com for Life of Pi. The author of the review did not regurgitate the synopsis found on the back of the book nor laden the review with spoilers, but rather gave his/her opinion on the book, the narrative style, writing and structure and what was enjoyable about the book for him/her. 2. Bad Review – I found a bad review on amazon.com for The Girl on the Train. The reviewer, J.Regan, noted that the story was well written, that it keeps the reader’s attention but that the main character could be hard to like at times. There was no detail as to the writing style, nor why or how the author was able to keep reader’s attention. The reviewer also failed to explain why he/she did not like the main character at points in the book. With no further details, this review does not help someone interested in the book decide whether they may like it or not. 3. Fake Review – As I was looking for reviews on the book I’m reading for the critical review project, I Don’t Have a Thing to Wear: The Psychology of Your Closet, I found a title of a review that struck me as odd and the review itself was a bit over the top which to me comes off as fake. It was rated five stars and the review appears to be written by a girl’s boyfriend stating that “she can’t put it down” and “she just raves about it constantly” (Bouton, 2003). The one part that really puts me off about this review is that he says “and I wish I had a nickel for each time......

Words: 578 - Pages: 3

Free Essay

Book Review

...Education REGION IV- CALABARZON Division of Cavite CAVITE STATE UNIVERSITY Pulo II, Cavite City BOOK REVIEW In Principles of Guidance and Counseling Submitted by: . Nerissa A. Bocalan Submitted to: Mrs. Cristina Baesa Professor March 28, 2015 About the book The title of the book is “Transformative Interventions in Managing Effectively (Human Resources). The author of this book is Gabriel G. Uriarte, Ph.D. The author also called his book in an acronym T.I.M.E. It was distributed and published by San Gabriel Archangel Publishing House Inc. and was copyrighted by the author and the said publishing house in the year 2009. Its publishing house was located, its main office at Lot 26, Block 13, Area E Sapang Palay, City of San Jose del Monte, Bulacan, Philippines, with a telephone number (044) 760-0397; (044) 760-0301 and cellphone number 0921-231-1379. The book has its International Standard Book Number (ISBN): 978-971-0513-1379 to control and facilitate activities within the publishing industry. It was printed by MMRC Trading located at 88 Buklod ng Nayon Street Sangandaan, Caloocan City with telephone number 324-6440 and 285-1285. The author, Gabriel G. Uriarte, Ph.D has secured his right to be identified as the author of this work in accordance with the Intellectual Property Right of the Philippines. All rights have been reserved for him. No part of this book may be reproduced, stored in retrieval system, or transmitted in any form or by any means,......

Words: 2184 - Pages: 9

Free Essay

Book Reviews

...Eleutheria: A Graduate Student Journal Volume 2 Issue 1 The Third Issue Article 7 2-1-2012 Book Reviews Various Authors Follow this and additional works at: http://digitalcommons.liberty.edu/eleu Part of the Biblical Studies Commons, Philosophy Commons, and the Religious Thought, Theology and Philosophy of Religion Commons Recommended Citation Various Authors (2012) "Book Reviews," Eleutheria: Vol. 2: Iss. 1, Article 7. Available at: http://digitalcommons.liberty.edu/eleu/vol2/iss1/7 This Book Review is brought to you for free and open access by the Liberty Baptist Theological Seminary and Graduate School at DigitalCommons@Liberty University. It has been accepted for inclusion in Eleutheria by an authorized administrator of DigitalCommons@Liberty University. For more information, please contact scholarlycommunication@liberty.edu. Book Reviews Abstract Review by Russell Meek of Existential Reasons for Belief in God: A Defense of Desires and Emotions for Faith by Clifford Williams. Downers Grove, IL: InterVarsity Press, 2011, 188 pp., $22.00. Review by A. Chadwick Thornhill of The King Jesus Gospel: The Original Good News Revisited by Scot McKnight. Grand Rapids: Zondervan, 2011, 177pp., $19.99 USD. Keywords Existential, belief, faith, God, Clifford Williams, Jesus, Gospel, Scot McKnight Cover Page Footnote Various authors. This book review is available in Eleutheria:......

Words: 2613 - Pages: 11

Free Essay

Book Review

...* Home * Books * Authors * Ideas * Lists * Bookchooser * Lucky dip! * About us Book review The Supernaturalist by Eoin Colfer(2004) It's a funny thing. Eoin Colfer writes the kind of book that's so easy to read your eyes just slide along the lines. The story skids along so fast you never quite know when to pause for breath - so you don't. You don't put the book down until you've finished it. And when you've finished it you're pretty sure you've read a funny book, except the story is in fact so sad it stays with you for ages. That's The Supernaturalist. It's set in the future but don't get excited because we humans are way past our zenith. It's downhill all the way from now on. Satellite City: An entire city custom-constructed for the third millennium. Everything the body wanted, and nothing the soul needed. Three hundred square miles of grey steel and automobiles. Read on. You are about to meet some needy souls. There's Cosmo Hill, inmate of the Clarissa Frayne Institute for Parentally Challenged Boys, who at fourteen is having to stand down his cherished dream of being adopted. The other option though, of suddenly taking responsibility for his own future, is also abit of a challenge for Cosmo. An overturned bus isn't necessarily everyone's idea of a once-in-a-lifetime opportunity, but this is definitely Cosmo's moment. And he blows it. Well, maybe he never really stood a chance. But, as luck would have it, there just happens to be a bunch......

Words: 912 - Pages: 4