The 2007–9 financial crisis threatened economic disaster on a scale not seen since the Great Depression, but rapid state action prevented the widely feared devastation. The German response was considerably more generous to banks than the American or British bailouts. Drawing on interviews and...

Make failure tolerable / George P. Shultz -- Financial reforms to end government bailouts as we know them / Paul Volcker -- Fifty years in the business : from Wall Street to the Treasury and beyond / Nicholas F. Brady -- Defining systemic risk operationally / John B. Taylor -- Lessons learned...