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
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.