Publisher Description
The New York Times bestseller hailed as “the best business book of 2010” (Huffington Post).
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As soon as the financial crisis erupted, the finger-pointing began. Should the blame fall on Wall Street, Main Street, or Pennsylvania Avenue? On greedy traders, misguided regulators, sleazy subprime companies, cowardly legislators, or clueless home buyers?
According to Bethany McLean and Joe Nocera, two of America’s most acclaimed business journalists, the real answer is all of the above-and more. Many devils helped bring hell to the economy. And the full story, in all of its complexity and detail, is like the legend of the blind men and the elephant. Almost everyone has missed the big picture. Almost no one has put all the pieces together.
All the Devils Are Here goes back several decades to weave the hidden history of the financial crisis in a way no previous book has done. It explores the motivations of everyone from famous CEOs, cabinet secretaries, and politicians to anonymous lenders, borrowers, analysts, and Wall Street traders. It delves into the powerful American mythology of homeownership. And it proves that the crisis ultimately wasn’t about finance at all; it was about human nature.
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“A stunning piece of research, the authors present a damning case against the many players that contributed to the financial crisis. Despite the complicated subject matter, business journalists Bethany McLean and Joe Nocera write with enough clarity to keep the reader engaged. They humanize the broad array of corporate and government characters involved in a way that news stories and earnings reports never can. I highly recommend the book to anyone who wants a deeper understanding of the housing bubble and financial collapse of the early 21st century. It lays the foundation for a new definition of “The American Dream.””
—
Alison (4 out of 5 stars)
