. >> now on booktv thomas stanton argues the difference between companies that successfully made it through the 2008 financial crisis and those that didn't was willingness of upper management to listen to feedback before making decisions. this is about an hour and 15 minutes. >> good afternoon and welcome to the cato institute's. i'm the director of financial regulations, mark calabria and i am moderator of today's book form. when reading press coverage of a financial crisis one constantly comes across phrases like the banks did this for the banks did that. lost in these generalities, there was no one responds to the financial crisis or events that preceded it. different firms took a different approaches. several ceos and their boards made 4 decisions that led to their failure, others made good decisions, prudent decisions and sometimes brilliant decision that not only save their firm is allowed firms to gain market share come out stronger than ever. while in my own riding via tended to place considerable emphasis on the poor public policy choices that caused this crisis it is important to