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Book Review - All The Devils Are Here - By Bethany McLean and Joe Nocera
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Paul Barrett of Business Week reviews McLean and Nocera's new book on the financial crisis; "All the Devil's Are Here." The title takes a line from The Tempest- "Hell is empty. All the devils are here." McLean and Nocera focus on securitization, the credit-ratings that were improperly given, and the chicanery of bankers, mortgage issuers and others behind the idea that every American should be able to have a home. Attention is also focussed on the loose monetary policy of the Greenspan era, with Greenspan airily dismissing all concerns, including concerns about the growing trade deficit with China. Barrett asks, what about the future? Barrett says the Bernanke easy monetary policy risks making the mistake a second time, and in all probability the devils will be coming back again in some other form.
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Book Review - All The Devils Are Here - By Bethany McLean and Joe Nocera
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Book Review - All The Devils Are Here - By Bethany McLean and Joe Nocera
New York Times 11/19/2010
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