All the Devils Are Here
The Hidden History of the Financial Crisis
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This surprising narrative goes back more than twenty years to reveal, in rich, anecdotal detail, how Wall Street, the mortgage industry, and the government conspired to change the way Americans bought their homes, creating a perfect storm. The authors take us inside elusive institutions such as Goldman
… More »This surprising narrative goes back more than twenty years to reveal, in rich, anecdotal detail, how Wall Street, the mortgage industry, and the government conspired to change the way Americans bought their homes, creating a perfect storm. The authors take us inside elusive institutions such as Goldman Sachs, AIG, and Fannie Mae, to reveal who changed the game and why.
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Publisher:
New York - PortfolioPenguin
Pages:
380
ISBN:
9781591843634, 1591843634
Language:
English
Contents:
The three amigos
"Ground Zero, baby"
The big, fat gap
Risky business
A nice little BISTRO
The wizard of Fed
The Committee to Save the World
Why everyone loved Moody's
"I like big bucks and I cannot lie"
The carnival barker
Goldman envy
The Fannie follies
The wrap
Mr. Ambassador
"When I look a homeowner in the eye
"
Hank Paulson takes the plunge
"I'm short your house"
The smart guys
The gathering storm
The dumb guys
Collateral damage
The volcano erupts
Rage at the machine
"Ground Zero, baby"
The big, fat gap
Risky business
A nice little BISTRO
The wizard of Fed
The Committee to Save the World
Why everyone loved Moody's
"I like big bucks and I cannot lie"
The carnival barker
Goldman envy
The Fannie follies
The wrap
Mr. Ambassador
"When I look a homeowner in the eye
"
Hank Paulson takes the plunge
"I'm short your house"
The smart guys
The gathering storm
The dumb guys
Collateral damage
The volcano erupts
Rage at the machine
Notes:
Includes bibliographical references and index
Statement of responsibility:
Bethany McLean and Joe Nocera
Physical description:
xviii, 380 p., [16] p. of plates : ill. ; 24 cm.
Author misc:
McLean, Bethany
Other author misc:
Nocera, Joseph
Call number:
330.973 M
Research call number:
[*R-SIBL HB3717 .M35, JBE 11-653]
Topical term:
[Global Financial Crisis, 2008-2009, Financial crisis, Mortgage-backed securities, Subprime mortgage loans]
Lccn:
2010032893
Comment
Add a CommentThis book provides very useful insights into a number of characters whose names loomed large in the financial crisis. The manner in which it is was written gave less attention to the crisis itself or the debate following the crisis. But in a very human way, the book (though most of the content was not based on interviews with principles) laid out how a cohort of very ambitious people and the choices they made brought the country to the brink of financial collapse.
pg 64
"All the Devils are Here" provides an in-depth view of the subprime industry and its role in the financial meltdown. It's also one of the few books I've read that makes clear why the rating agencies' ratings made the whole mess possible. While other books do a better job of covering the other actors, such as Wall Street and the Federal Reserve, this book was worth my time.