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All the Devils Are Here

The Hidden History of the Financial Crisis

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All the Devils Are Here

Written by: Bethany McLean, Joe Nocera
Narrated by: Dennis Boutsikaris
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About this listen

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.

©2010 Bethany McLean (P)2010 Penguin Audio
Banks & Banking Business & Careers Economics Real Estate United States Business Wall Street Global Financial Crisis Mortgage Great Recession
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Ok

A little dry account of the 2008 financial crisis. Very detailed but it’s that detail that tends to drag the story.

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A little hard to follow

The story line seemed to jump around a lot with the focus more on a few firms, Fannie May and Freddie Mac and less on the actual meltdown. Maybe it was me but I never had a sense of the flow of events.

Some of the narrative read like meeting minutes with the authors using initials for the character names. Given the minutiae of detail provided for character backgrounds and the abundance of acronyms, I thought using full names would have been more appropriate.

Overall it was not the book I anticipated.

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