All the Devils are Here
While All the Devils are Here may fall short of a Seurat masterpiece, there are some real gems that make the book worth reading, especially if you are coming to the crisis with fresh eyes. — Read the complete FT review
According to Bethany McLean and Joe Nocera, two of America’s most acclaimed business journalists, no-one has put all the pieces of the financial crisis together. The finger was pointed at greedy traders, cowardly legislators and clueless home buyers, but many devils helped bring hell to the economy.
All The Devils Are Here goes back several decades to explore the motivations of everyone from CEOs and politicians to anonymous lenders, borrowers and Wall Street traders. It exposes the hidden role of companies including AIG and Goldman Sachs. It delves into the powerful mythology of homeownership. And it proves that the crisis ultimately wasn’t about finance at all; it was about human nature.
Bethany McLean’s The Smartest Guys in the Room was the best Enron book on a crowded shelf. All the Devils Are Here will be remembered for finally making sense of the meltdown.