{"id":110548,"date":"2009-12-28T05:01:33","date_gmt":"2009-12-28T10:01:33","guid":{"rendered":"http:\/\/blogs.wsj.com\/economics\/2009\/12\/28\/the-fed-now-come-the-novels\/"},"modified":"2009-12-28T05:01:33","modified_gmt":"2009-12-28T10:01:33","slug":"the-fed-now-come-the-novels","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/110548","title":{"rendered":"The Fed: Now Come the Novels"},"content":{"rendered":"

The Federal Reserve, not surprisingly, figures in a number of non-fiction accounts of the financial crisis. Now comes the fiction: Union Atlantic<\/em><\/a>, a first novel by short-story writer Adam Haslett<\/a><\/strong>, 39, to be published in late January, that revolves around a bank that figures it is \u0093too big too fail.\u0094<\/p>\n

Set outside Boston, home of a huge bank called Union Atlantic, the plot features — among other things — the president of the Federal Reserve Bank of New York, widower Henry Graves, and his increasingly crazy sister.\u00a0 After some badly conceived trades put the survival of Union Atlantic at risk, its CEO comes face to face with Graves (even though a Boston bank ordinarily would be the province of the Boston Fed).<\/p>\n

\u0093Let me start by saying,\u0094 Graves tells the banker, \u0093that if you or your board is under the impression that Union Atlantic is to big to fail, you\u0092re mistaken. There\u0092s no question here of a bailout. If you go under, the markets will take a substantial hit, but with enough liquidity in the system we can cut you loose, I hope you understand that.\u0094<\/p>\n

\u0093This, of course, was a bluff,\u0094 Haslett writes, in a first novel that the publisher says was finished during the failure of Lehman Brothers last fall. \u0093Henry had already begun receiving calls from the Treasury Department.\u0094<\/p>\n

As in the 1995 Bruce Willis movie, Die Hard: With a Vengeance<\/em>, the New York Fed\u0092s underground gold vaults make an appearance in the novel, this time as an improbable — though accurately described — backdrop to a conversation between Graves and a whistleblower from the bank. The New York Fed president, though, doesn’t figure in the book’s sex scenes.<\/p>\n

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The Federal Reserve, not surprisingly, figures in a number of non-fiction accounts of the financial crisis. Now comes the fiction: Union Atlantic, a first novel by short-story writer Adam Haslett, 39, to be published in late January, that revolves around a bank that figures it is \u0093too big too fail.\u0094 Set outside Boston, home of […]<\/p>\n","protected":false},"author":850,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-110548","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/110548","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/850"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=110548"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/110548\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=110548"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=110548"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=110548"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}