Resurrecting the Street Overcoming the Greatest Operational Crisis in History eBook Jeff Ingber
Download As PDF : Resurrecting the Street Overcoming the Greatest Operational Crisis in History eBook Jeff Ingber 
The events of 9/11 presented the financial industry with the greatest operational crisis in its 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. The bottom line is that 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 paralysis. 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.
Resurrecting the Street Overcoming the Greatest Operational Crisis in History eBook Jeff Ingber
I found this book to be a fascinating case study about human nature. Oh yes, this is the story about financial instruments and a big business catastrophe and the author tried to explain the complex mechanisms of financial instruments in details. I applaud him for efforts, but not for the end results. I studied economy and work in IT, both of which are the core of derivatives. However I didn't get a lot about mechanics of doing trades of financial instruments from the book.Even if his explanation about financial markets weren't fully understandable, they proved that he knows what he was talking about. "Resurrecting the Street" is definitely a book written by someone who "has been there and done that" and it shines throughout the pages. It's not some shallow self-help junk made by a person who decided that publishing is a good way to make some quick bucks.
The human element
Maybe I paid too little attention to mechanical aspects of book, because I was fascinated by human stories? I prefer this explanation than alternatives (I am dumb or the author couldn't explain the issue in simple enough terms).
Anyway, the book was full of anecdotes and individual human stories that drew my attention as a magnet. Everybody was scared. Very few panicked. People were helping each other. People spontaneously organized support and provided for needed. Everybody's relatives were worried. Stress levels were orbital, but humanity levels was surprisingly high as well.
Government and big business
"Resurrecting..." gave me also a close look at how government reacted to the crisis and what were the reactions of executives of big companies that handled billions of dollars each day. It's not the world I have an insight into on a regular basis, so I appreciated it very much.
Average folks
But in the end this book was about average folks who happened to work in financial sector. Their dedication, commitment, sharp wits and strong characters caused that the crisis didn't spilled over other parts of economy, and this could've easily happened.
It's amazing how many billions - not millions, billions! - of dollars were going through the hands of common workers in the days and weeks after 9/11.
I enjoyed also the analysis about contingency procedures, the role of redundancy and how thinking about those issues was shaped by the attack on The World Trade Center.
The same goes for business strategies. Many companies did their homework and dispersed their workforce in the result of such post-catastrophe analysis.
Ironically, terrorists made American financially stronger by their assault.
All in all, this book was a piece of solid work and I enjoyed it thoroughly. The author did a great job drawing the frantic atmosphere of those tragic days.
I was especially encouraged by how courage and commitment prevailed among people on all levels, from common workers to CEOs in the time of crisis. Stress can break people, but it can also expose what's best in them.
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Resurrecting the Street Overcoming the Greatest Operational Crisis in History eBook Jeff Ingber Reviews
It is a rare thing for a book to so dramatically shift your perspective on a global event, particularly one as universally felt as 9/11. This book was a masterpiece of investigative journalism and blunt, honest truths about the days that followed one of our world's most recent tragedies. As an America, I have always viewed the events of that day from my perspective as a non-financial worker, but given the events of 2008 and the impact that true economic collapse can have on the world, this story must be told.
Personally, I never considered the impact of 9/11 on the direct infrastructure of the financial world, let alone the individual actors that are just as human as you or I, despite their cold calculating behavior as titans or soldiers of the financial industry. This was a humanistic approach to a subject that has been overlooked for more than a decade, by myself included. I think that Ingber took a lot of risks to write this book in such a sincere and uncompromising fashion, and just as the return and salvation of the financial markets came as a result of American spirit embodied, so too is this book a proud declaration of American perspective, and our hope for the future.
Resurrecting the Street A telling of the impact 9/11 had on the financial infrastructure of the US.
Most everyone who was alive on that day, has seen the footage from when the towers fell and is aware of the copious amount of lives lost. However most of the US population have no clue what was housed in those offices. That the World Trade Center complex is, at heart, one of our biggest financial markets. With the lost of key personnel and 35 million square feet of office space it brought the financial markets to a standstill, not only in the US, but across the world too.
This book, written by someone who was in Manhattan at the time, is an educational read on what the 9/11 attack had on the financial markets of the US and how it opened our eyes about the weaknesses of our financial infrastructure.
As someone who watched the coverage from the comfort of my college dorm room. I understood that many lives were lost, but not that the attack nearly brought this country to its knees. Through this book I was able to learn exactly what the larger impact was that most people aren't aware of. I believe that this needs to be included in the American history classes that are being taught to our children. So that they know some of the more lasting impacts the attacks had.
In 'Resurrecting the Street Overcoming the Greatest Operational Crisis in History' Jeff Ingber goes into detail to an extent on the human loss that hit the United States on 9/11 but how it created chaos in the financial markets. It is the tale of loss, disruption, and massive changes that swept one of the backbones of industry in the nation and how it has changed the future of the financial industry as we know it.
Thousands of lives were lost and 100's of thousands had their jobs and roles impacted. Landlines, data lines, servers were all destroyed, damages, or halted. 10's of thousands of businesses from small to major players in multiple industries were all ground to a halt with no redundant way to bring their businesses back online. The short and long term effect to these businesses was major but the changes to the financial industry was only beginning.
From sweeping government policy and requirement changes to an increase of system redundancy on a scale never previously seen this book really takes a look at what happened to the industries of the United States and in particular the financial industry. The changes were not only major but so much had happened behind the scenes that few really knew what happened and what changes for businesses which this book tells in detail. A great read for those who are in the financial industry, entering it, or curious about indirect consequences of 9/11.
I found this book to be a fascinating case study about human nature. Oh yes, this is the story about financial instruments and a big business catastrophe and the author tried to explain the complex mechanisms of financial instruments in details. I applaud him for efforts, but not for the end results. I studied economy and work in IT, both of which are the core of derivatives. However I didn't get a lot about mechanics of doing trades of financial instruments from the book.
Even if his explanation about financial markets weren't fully understandable, they proved that he knows what he was talking about. "Resurrecting the Street" is definitely a book written by someone who "has been there and done that" and it shines throughout the pages. It's not some shallow self-help junk made by a person who decided that publishing is a good way to make some quick bucks.
The human element
Maybe I paid too little attention to mechanical aspects of book, because I was fascinated by human stories? I prefer this explanation than alternatives (I am dumb or the author couldn't explain the issue in simple enough terms).
Anyway, the book was full of anecdotes and individual human stories that drew my attention as a magnet. Everybody was scared. Very few panicked. People were helping each other. People spontaneously organized support and provided for needed. Everybody's relatives were worried. Stress levels were orbital, but humanity levels was surprisingly high as well.
Government and big business
"Resurrecting..." gave me also a close look at how government reacted to the crisis and what were the reactions of executives of big companies that handled billions of dollars each day. It's not the world I have an insight into on a regular basis, so I appreciated it very much.
Average folks
But in the end this book was about average folks who happened to work in financial sector. Their dedication, commitment, sharp wits and strong characters caused that the crisis didn't spilled over other parts of economy, and this could've easily happened.
It's amazing how many billions - not millions, billions! - of dollars were going through the hands of common workers in the days and weeks after 9/11.
I enjoyed also the analysis about contingency procedures, the role of redundancy and how thinking about those issues was shaped by the attack on The World Trade Center.
The same goes for business strategies. Many companies did their homework and dispersed their workforce in the result of such post-catastrophe analysis.
Ironically, terrorists made American financially stronger by their assault.
All in all, this book was a piece of solid work and I enjoyed it thoroughly. The author did a great job drawing the frantic atmosphere of those tragic days.
I was especially encouraged by how courage and commitment prevailed among people on all levels, from common workers to CEOs in the time of crisis. Stress can break people, but it can also expose what's best in them.
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