The Road to Financial Reformation: Warnings, Consequences, Reforms

“A devastating critique of our troubled financial system with clear explanations of how we got here, and what we must do to get our economy back on track—written by someone who consistently and correctly warned us of the dangers. If Presidents, Congresspersons, and Federal Reserve Chairmen had listened to Henry Kaufman, we wouldn’t be in our current fix.” —BILL BRADLEY, former U.S. Senator

book-road_to_financial_reformAugust 12, 2009 – For more than a half century, acclaimed financial analyst Henry Kaufman has seen it all: the risks, the rewards, the foibles of financial markets, and now, the mother of all financial crises.

Having spent a lifetime entrenched in the world of finance, serving in senior positions at Salomon Brothers Inc. and as an economist for the Federal Reserve, Kaufman has earned the well-respected reputation and popular nickname of “Dr. Doom” for his consistent bearish views on the markets. True to this epithet, Kaufman delivers a smart and fiercely critical financial history in his new book The Road to Financial Reformation: Warnings, Consequences, Reforms (Wiley; August 2009; $29.95; ISBN: 978-0-470-53212-6). By explaining the politics and policies behind the past fifty years of American finance, Kaufman reveals the complexities and problems imbedded in the current financial system.

As the economy continues its downward spiral, people are asking: “How did we get into this mess and why?” In his new book, Kaufman answers these tough questions in a highly engaging manner, walking readers through the mistakes that got us into this debacle, the previously unrealized consequences, and most importantly, how to put our derailed economy back on track.

In the financial crises of the early postwar decades, both the economy and financial markets rebounded quickly. Unfortunately, that is far from likely this time around. But with The Road to Financial Reformation, we will at least see a path for moving in the right direction.


Henry Kaufman, PhD, has been President of Henry Kaufman & Company Inc., an investment management and economic and financial consulting firm, since April 1988. For twenty-six years, Kaufman was with Salomon Brothers Inc., where he served as a managing director, vice chairman, and member of the executive committee, and was in charge of Salomon’s four research departments. He currently is a trustee at New York University; Chairman Emeritus of the Board of Overseers at the NYU Stern School of Business; Chairman Emeritus of the Institute of International Education; and trustee of the Norton Museum. Kaufman is author of On Money and Markets and Interest Rates, the Markets, and the New Financial World, and a regular contributor to the New York Times, Wall Street Journal, and Financial Times (London). He received a BA in economics from New York University, an MS in finance from Columbia University, a PhD in banking and finance from the New York University Graduate School of Business Administration, and was awarded honorary doctorates from NYU, Yeshiva University, and Trinity College.

For more information, contact:
Amy Packard

(415) 782-3177
The Road to Financial Reformation
Henry Kaufman, Niall Ferguson (Foreword by)
Jossey-Bass; August 2009; $29.95
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