TheNew York Times's Pulitzer Prize-winning columnist reveals
how the financial meltdown emerged from the toxic interplay of Washington, Wall
Street, and corrupt mortgage lenders.
In Reckless Endangerment, Gretchen Morgenson, the star business
columnist of The New York Times, exposes how the watchdogs who were
supposed to protect the country from financial harm were actually complicit in
the actions that finally blew up the American economy.
That brings us to a flaw in this excellent story. The authors have joined
the attack on Goldman business methods. Having failed to end the real
outrage at Goldman—its ability to get government assistance in a crisis
when smaller firms can't—politicians seem determined to find something
prosecutable. Journalists should remain skeptical.
Monday, 27, Jun, 2011
Reviewed by : Guest
This is one of the good book i have ever read yet. The authors are at their
best demonstrating how the revolving door between Wall Street and
Washington facilitated the charade. As Treasury secretary, Robert Rubin,
formerly the head of Goldman Sachs, pushed for repeal of the
Depression-era Glass-Steagall Act that had separated commercial from
investment banking — a move that Sanford Weill, the chief executive of
Travelers Group had long sought so that Travelers could merge with Citibank.
Reckless Endangerment Book Reviews
Reckless Endangerment Book Reviews
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