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Go behind the scenes of the 2008 financial crisis to learn what actions led to one of the worst recessions in history, and how, without focused action from the US government and leading organizations, we may be on track to repeat our same mistakes.
In 2008, the American economy collapsed, taking with it millions of Americans' jobs, homes, and life savings. The impending financial crisis was devastating, and many are still feeling its effects today.
Though the crisis was debilitating, the US government has yet to implement policies that would prevent a repeat of the Great Recession. The middle class continues to shrink, escalations in racial injustices prevail, and distrust of the government grows by the day. And with the country's current fiscal policies, our economy is in a fragile place, barely strong enough to survive a shock caused by an international conflict, a cyberattack, or a global pandemic, like COVID-19.
Written by the former CEO of Washington Mutual Bank and the former vice chair of the Federal Home Loan Bank of Des Moines, Nothing Is Too Big to Fail holds a microscope to the very policies and corruption that led to this major economic recession. Authors Kerry and Linda Killinger warn that, without significant institutional change, the country has created asset and debt bubbles that could burst at any time.
No institution, government, or country is "too big to fail." But by learning from our past mistakes and taking action to ensure our country's businesses and government officials maintain proper fiscal responsibility, we can return our country's economic system--and in turn, our democracy--to one that is secure.
All proceeds of this book will be donated to charity to aid in criminal and social justice, government reform, civil discourse, and community building.
2021 Axiom Business Book Award Bronze Winner for Business Commentary
Kerry Killinger was the former chairman, president, and CEO of Washington Mutual Bank, the sixth largest depository bank in the country prior to the financial crisis of 2008. After graduating from the University of Iowa, Kerry worked as a securities analyst at Murphey Favre before quickly rising through the ranks to become executive vice president and director. Just seven short years after Murphy Favre was acquired by Washington Mutual Bank in 1983, Kerry was named CEO, a role for which he received the 2001 Banker of the Year title by American Banker and was elected to the American Society of Corporate Executives. Following the 2008 Recession, Kerry founded Crescent Capital and currently serves as its CEO. Along with his wife, Linda, Kerry is highly involved in a variety of philanthropic efforts and continues to invest in groundbreaking fintech and entrepreneurial projects.
Linda Killinger is the CEO of Olympic Consulting Partners. Previously, Linda worked as the vice chair of the Federal Home Loan Bank of Des Moines, the director of administration for the Iowa Department of Human Services, and the chair of former Governor of Iowa Tom Vilsack's Committee for a Comprehensive Housing Strategy for Iowa. She has an MBA from Drake University and a bachelor of science degree from Iowa State University, where she currently serves as a Dean's Advisory Council Member for the university's College of Liberal Arts and Sciences.
In 2002, Linda and Kerry founded the Kerry & Linda Killinger Foundation, an organization that helps local communities thrive by promoting government fiscal responsibility, encouraging civil discourse, and promoting the distribution of wealth, opportunities, and privileges within society. Their philanthropic work has led them to support local organizations like the University of Washington, Shriners Hospitals for Children, United Way, and the Seattle Art Museum.
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