Too Big to Fail gives a good view of how executives and managing directors live: on call 24 hours, breaking off family vacations to deal with company business, showing up hours late to meet your future son-in-law.
True, rushing back to the office requires getting in a limo with your personal driver or, in one case, a helicopter. True, the broken family vacation started at a 5-star exclusive island getaway, and they fly back on private jet. True, you host your guests in your unbelievably large mansion, and when you arrive, you can regale them with unique stories about how you just got out of an all day meeting with the Secretary of the Treasury and the head of the Fed.
So, forget having a family life if you want to make it big in the financial industry, though you will have any comfort money can buy. Most people would probably make that trade-off, but after reading this book, I realize I couldn't.
I developed even greater appreciation for the government workers heading the Treasury and the Fed. These guys worked just as hard or harder, but without the perqs or big bonuses. Of course, Paulson made hundreds of millions already, but why would he want the job? At one point, he vomited in the trash can next to his desk, due to exhaustion and stress, then immediately got on a call to save AIG. He and Geithner performed as incredibly tireless servants of the government; Geithner never worked on Wall Street, so he never made the huge bucks. Meanwhile, the public scrutinized every move of theirs, and when they made mistakes, as surely they did, their critics ripped into them. Again, I had to wonder about the benefits of the job, and who would want it?
Almost all of the execs and leaders impressed me with their stamina, quick minds (despite the pressure and the lack of sleep), and depth of knowledge.
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