America: Underwater and Sinking
In Underwater, James B. Lockhart, a former submarine officer with the US Navy who went on to play a large part in the government's response to the Global Financial Crisis, tells an important story about managing government agencies that-in submarine parlance-are deep underwater, then provides solutions on how to help them and the overall government surface.
As President Geroge H. W. Bush once said, "There is nothing more fulfilling than to serve your country and your fellow citizens, and to do it well." Underwater is about trying to do it well.
Earn by promoting books
Earn money by sharing your favorite books through our Affiliate program.
Become an affiliate
"[T]he new regulatory agency, led by friend and businessman Jim Lockhart, . . . concluded the GSEs had nowhere enough capital. . . . [T]he only way to prevent a disaster was to take Fannie and Freddie into government conservatorship. It was up to Hank [Paulson] and Jim."
-George W. Bush, Former President and Author of Decision Points
"Jim Lockhart has held key posts in some of the government's most troubled agencies and remains clear-sighted about the challenges they face. Americans should be educated about the mounting problems he describes, and demand that their representatives enact necessary reforms."
-Charles Blahous, Deputy Director of the White House National Economic Council, Public Trustee for Social Security and Medicare
"As with my Treasury team, so with my colleagues in government, Ben Bernanke, Tim Geithner, Sheila Bair, Chris Cox, John Dugan, Jim Lockhart. At times we differed on philosophy and strategy, but I never doubted their dedication to this country or their commitment to taking the bold actions necessary to save the system."
-Henry M. Paulson, Jr., Former US Secretary of the Treasury, Author of On the Brink
"Jim Lockhart is the rare public servant who grasps the broad sweep of national policy and the technical details required to make real change. Jim brought these skills and a wealth of private sector knowledge to the Bipartisan Policy Center where he led a diverse group to develop solutions to the financial insecurity facing millions of retired Americans. Jim's high regard among policy makers in both parties has made him an effective advocate for the BPC."
-Jason Grumet, President, Bipartisan Policy Center (BPC)
