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Resurrecting the Street: How U.S. Markets Prevailed After 9/11 (edition 2011)

by Jeff Ingber

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2312459,532 (3.95)None
Member:cherilove
Title:Resurrecting the Street: How U.S. Markets Prevailed After 9/11
Authors:Jeff Ingber
Info:CreateSpace (2011), Paperback, 306 pages
Collections:Read
Rating:****
Tags:History

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Resurrecting the Street: Overcoming the Greatest Operational Crisis in History by Jeff Ingber

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This review was written for LibraryThing Early Reviewers.
A first hand account of the loss of financial records after the attacks of 9/11. There were actually brokers and bank employees that stayed on wall street in order to gather as many financial records as possible. This book details the underlying crisis of information loss during catastrophe that can cripple whole infrastructures. Actually an exciting read. For a non-fiction book, it has the feel of a fictional drama. ( )
  Archivist13 | May 9, 2014 |
This review was written for LibraryThing Early Reviewers.
Just an okay book, in my opinion. It was extremely difficult to even get through this book without nodding off, but that doesn't mean that others won't like it. ( )
  KWoman | May 8, 2013 |
This review was written for LibraryThing Early Reviewers.
This should probably be a five-star book, but I don't have the financial background to understand the bulk of it. I thought that it was about the six days between 9/11 and the re-opening of the stock market; it was actually about the couple of days before re-opening of the the Government-backed securities market. I was most interested in the human impacts and logistics, and the reporting on that was detailed and heart-rending. The extensive accounts of the actual negotiations and operational difficulties inherent in this effort are likely impeccable. (The 60 or more pages of end-notes are certainly impressive.) I'm giving it four stars only so that if someone has a question about reading it, they'll realize that much of the book is for students and historians of financial systems. ( )
  cherilove | Dec 24, 2012 |
This review was written for LibraryThing Early Reviewers.
This book took me a very, very long time to read.

Resurrecting the Street walks the reader chronologically through events leading up to, during, and in the aftermath of the 9/11 attacks. I learned a lot about modern markets history and structure in the US, which I expected, and which are laid out in a reasonable and understandable manner in the book. What I did not expect, however, was the masterful way in which the author used testimonies and anecdotes from people all over New York to talk about both what happened on Wall Street and in people's homes and hearts as a result of the tragedy. I like to read books during my morning commute, but I had to keep this book on my bedside table because too many mornings left me an emotional wreck. Although Resurrecting the Streets was not the most enjoyable book to read, I learned a lot and highly recommend it. ( )
  blaircai | Nov 4, 2012 |
This review was written for LibraryThing Early Reviewers.
This book tells the story, day by day, of steps and missteps taken to get the financial markets back up and running following the attacks of September 11, 2001.

I do not think I am qualified to give a review of this book because I have trouble comprehending this level of financial transactions. With that said, I read the whole book and am glad that I did. I have read numerous books about that day that were usually focused on the personal side of the tragedy. Ingber's book presents another side while including some details of the personal side. He provides a brief history of the market and a brief view of how it works. Then, he details that first week of steps taken to process and settle trades from the morning of 9/11 and problems encountered as markets were reopened. Even if I did not understand much of what I was reading, I found it worthwhile because I had thought very little about the financial and operational impact of the attacks. So I learned about the difficulties the firms had in finding office space, getting communications established and a host of other problems.

I think this book would be of special interest to anyone who enjoys reading about the stock market and/or financial news. The book is well documented with lots of notes.

A couple of minor quibbles: The book has no page numbers and no index. Of course, it is not possible to have an index without page numbers. I would have found an index helpful when I wanted to refer back to something read in earlier pages. ( )
  EMYeak | Sep 19, 2012 |
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Resurrecting The Street - How U.S. Markets Prevailed after 9/11, gives a unique snapshot of how the attacks affected, at the time, the relatively unknown Govie market. The enlightening thing right from the start was how important that market was to the whole financial health of the US. Ingber chronologically follows events of the day through the eyes of several key figures who were near the towers. It was chilling to read the eyewitness accounts of the towers being hit, falling and then the escapes to safety...especially 10 years later. His research is top notch because he interviewed over 100 personal cases in the following years. The result is a detailed account of a financial meltdown of gargantuan proportions and how the efforts of shell shocked dedicated individuals kept the markets from failing.



The events of 9/11 presented the financial industry with the greatest operational crisis in history. Key officials were killed; others could not be located. Primary and backup sites were unavailable or inadequate. Massive amounts of critical data were lost, and there was a crushing inability to communicate, locate or verify information. It was not known for a time which firms could participate in the markets and to what degree, nor was it clear to what extent certain markets had been damaged and when they should reopen.

Nor could the human impact of the 9/11 events be divorced from the business issues. Those grappling to restore the markets had to cope with their own feelings of anxiety, shock and loss, and to deal with a uniquely horrific blend of personal and professional difficulties.

This book tells of the regeneration of the U.S. markets, day by day, immediately following 9/11, with a focus on the U.S. Government securities market. 9/11 brought the most important financial market in the world – the one looked to by investors globally for safety in times of trouble – to the brink of collapse. The crisis was ultimately resolved through the willpower and wisdom of groups of disparate individuals, accompanied by an unprecedented climate of cooperation among fierce competitors that embodied the American spirit at its finest.
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Details the effect that the 9/11 disaster had on the financial history, including the effect it had on the lives of those grappling to restore the markets.

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