All the Devils Are Here: The Hidden History of the Financial Crisis
| Author | : | |
| Rating | : | 4.48 (722 Votes) |
| Asin | : | 159184438X |
| Format Type | : | paperback |
| Number of Pages | : | 416 Pages |
| Publish Date | : | 2015-05-17 |
| Language | : | English |
DESCRIPTION:
New York Times Joe Nocera is the best business writer alive Jim Cramer . Time Grand in scope, overwhelming in detail, this is as compelling as a well-crafted literary novel USA Today Yields a rich and intricate tableau of understanding Financial Times A thorough account of the origins of the financial crisis. Helps explain the most troubling headlines of the moment, as well as those that are certain to come. A business book that is as riveting as an adventure novel a masterpiece Huffington Post When the financial crisis of this decade is being taught in business schools, All the Devils Are Here could be the textbook
It delves into the powerful American mythology of homeownership. And the full story, in all of its complexity and detail, is like the legend of the blind men and the elephant. It explores the motivations of everyone from famous CEOs, cabinet secretaries, and politicians to anonymous lenders, borrowers, analysts, and Wall Street traders. 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, t
John R. Holmes, Jr. said Great Book, Misleading Title. There is probably no better book on the financial crisis. The authors leave no stone unturned and manage to go into great detail without being tedious or boring. Best of all, rather than slant the story in favor of one causal hypothesis or another, they present such a wealth of data about who did what, and when, that readers can paint their own picture of what happened.That said, the word “devils” in the title is misleading. It turns out to be a partial quotation from Shakespeare’s The Tempest: “Hell is empty, and all the d. I thought it would take at least a decade for a book this good I thought it would take a couple of decades of perspective to tell the full story of the crisis. Meanwhile Michael Hirsh's Capital Offense (which covered the story from Washington), along with The Big Short by Michael Lewis (focusing on a few offbeat portfolio managers), Justin Fox's The Myth of the Rational Market (which went deep into intellectual history and gave testimony from many of the people who invented the theories), The Quants by Scott Patterson (working from the equations out) and Glenn Yago and Franklin Allen's Financing the Future (w. "The Financial Catastrophe: Talking and Reading About it Helps" according to M. E. Llorens. This is not the sexiest book on the financial meltdown, but it probably is the most detailed, sober analysis of the lead-up to the crisis to come out so far. For a play-by-play of CEOs running around on Lehman weekend and dodging each other's calls (and not a single insight into why it all happened), go to Sorkin's Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the FinancialSystem--and Themselves. For indigestible (and largely irrelevant) inside baseball about Bear Stearns, see William Cohan's House of Cards: A
Bethany McLean and Peter Elkind are Fortune senior writers. McLean, a former investment banking analyst for Goldman Sachs, lives in New York City. Her March 2001 article in Fortune, "Is Enron Overpriced?," was the first in a national publication to openly question the company's dealings.