I appear to have quite a different opinion of this book to most of the other reviewers on Goodreads. As much as Robert Rubin may have accomplished both in the private and public sector, he is simply not good at writing or storytelling or indeed at providing insights into how he solves problems and makes decisions, the emotional and intellectual conflicts one faces or any astute observations of what other people might be going through.

The book reads like "I applied to Harvard and then I went there and then I met president Clinton, and he was nice and smart, and then I met my amazing wife and she told me that...and so I...". Much in the style of a speech a 6-year-old might give when under pressure to give a summary of their life (except that Rubin has met high powered people and worked in influential positions).

On the other hand, I thought that the descriptions of economic scenarios were actually plainly written and not hard to follow at all. Boring, like the rest of the book, but easy to follow.

It could have been so much more had he just given a glimpse into thought processes, the political manoeuvring, any personal interests and jostling that may have impacted decisions, irrationalities in assessing situations...anything really that might show the greater depth of analysis that he is very likely to be capable of.

Amongst the best books I have read in the recent times. As much as it gives a practical perspective of international economies are linked, it also deep dive into personal finance (reader will have to use Charlie Munger's Latice thinking herein).

MANY PEOPLE CAN ACKNOWLEDGE CRITICSM AND ADVICE, BUT RELATIVELY FEW INTERNALISE IT AND ALTER THIER BEHAVIOUR IN A SIGNIFICANT WAY

Financial models are useful tools. But they can be dangerous because reality is always more complex than models.

an important education converging the lessons taught by wall street and Washington. an EM strategist's guilty pleasure. emphasizes the importance of demand side economics.

Robert Rubin is one of my bureaucratic heroes. He's a wonderful example of the advantages of allowing process to triumph over personality.

Pending.

1998년 금융위기를 미국 쪽에서 바라보는 내용이 나온다. 이헌재의 위기를 쏘다, 이규성의 한국의 외환위기 같은 책이 한국쪽에서 바라보고 쓴책이라면 이책은 미국쪽의 시각을 담고 있다. 경로의존성이라는 것이 여기서도 작용해서 멕시코 금융위기를 대처해봤던 경험을 가지고 아시아 금융위기에 대처하는 모습을 유사하게 보인다.

당시 위기 상황에서 한국에 금융개혁을 요구한 것은 한국 쪽 협상단에서는 전혀 예측하지 못하고 있다가 받아들이게 된 것인데, 이것을 보는 시각에 따라 불필요한 내용을 넣었다는 다소 음모론적인 시각에서 보는 시각도 존재한다. 스티글리츠 같은 사람이나 한국의 비판적인 쪽에서는 그렇게 본다.
하지만, 이는 멕시코 금융위기를 해결할 때 이미 사용했던 방법이었다.

반면에, 미국은 금융시스템의 안정을 생각하면서 당시 이머징 마켓을 대표하는 한국이라는 시장에서 확실한 시그널을 주어야 한다는 입장을 가지고 있었다. 금융의 문제는 통상 채권자와 채무자간의 "빚"이라는 것으로 요약되는데 루빈은 채권자 입장을 반영하여 의사결정을 내린 것이다. 이걸 보면 미국도 나름대로의 자기 이익을 고민하여 결정하는 것인만큼 그 나름대로의 논리구조는 이해가 간다.

세월이 지나서 그의 지휘아래 경험을 쌓은 가이트너가 2008년 금융위기에서 주역이 되는 것도 흥미롭다.

하버드대학에서 논문을 지도해준 교수가 토머스 쉘링이라는 점도 인연이고, 한때는 래리 써머스나 앨런 그린스펀과 매주 한 번 이상 점심을 먹으면서 토론하는 관계라는 점은 자연스러운 정책결정자들간의 커뮤니케이션 문화가 부럽다.

한국의 외환위기에서 IMF의 협상단과 함께 협상을 좌지우지 한 주역의 이야기를 한 번 읽어보고 싶어서 구해서 읽어본 책인데, 인간적인 면에서 본인의 철학을 형성한 과정이나 생각을 품위있게 표현해 가는 점도 배울만하다. 인생을 확률의 문제로 다시 들여다 보면서 겸허하고 치밀하게 하루 하루를 살아가는 자세를 견지하는 것이야 말로 그가 이책에서 하고자 하는 이야기일 것이다.

아울러 정부와 금융계를 모두 경험하면서 여기에서 많은 변수를 고려하여 정확히 판단을 내린 이야기나 기업가 출신 정치인이 빠지기 쉬운 함정을 언급한 부분은 우리가 귀담아 들을만 하다.

a rambling description of rubin's time in business and government. most of his annecdotes aren't fully developed - just a few lines, that often don't seem to have a point. however, the overall subject matter is interesting, as he provides an inside view on what he was thinking/doing when handling things like the asian crisis.

I never knew I was so excited about international finance, banking and being reminded that everyone is DC is still in DC. I knew nothing about this author but enjoyed his story. No footnotes, just personal reflections during the Clinton Admin in the Dept of Treasury. It helped get me ready for Napier's book, The Asian Financial Crisis ('95-98), which is still quite expensive. Would I recommend this book to anyone? Only if they are moving to another world and are using the Total Avoidance Protocol to stay in denial. But honestly, I couldn't put it down - but that was me.

I found it boring. It might be of considerable interest to those who are adept at macroeconomics, but while I found some interest in his descriptions of the several international monetary crises with which he has been involved, there was little here that held my interest. He does laud Clinton for his intelligence, quick grasp of facts and his willingness to spend personal political capital to take risks and to do the right thing.

There is a NY Times article that discusses Rubin's probabilistic approach to thinking - if pressed for time, the article is a good summary of this book.

Is a mixture of autobiography, reflections on life and leadership, and historical recollection on the 1990s Asian Debt crisis.