All the Devils Are Here

The Hidden History of the Financial Crisis

By: Bethany McLean, Joe Nocera

Narrated by: Dennis Boutsikaris

Length: 15 hrs and 29 mins

Publisher's summary

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

Details, where the devils are

It would have been nice to have a larger discussion at the end of the book is to at least competing visions for the future also have that beyond the scope of what the author intended. Otherwise absolutely detailed account of GFC

Enlightenment

Couldn't stop listening. The depravity of Wall Street and the quid pro quo of the US Government knows no ends. They risked millions of people's money. How many suicides? Great book.

Outstanding!

A must read for anyone who enjoys finance or anyone who enjoyed “The Smartest Guys in The Room”

Great Book

This was a very thorough and detailed book. However, I must admit it was a bit above my ability to follow every tentacle of the data (and I have a Masters Degree in Finance!). I think this might be one that would be better READ and notated in order to gain the fullest benefit from the extremely detailed and thorough examination of the factors leading to the current financial crisis.

A must read !!

A deeply researched and well presented narrative about the fundamental causes of the Great Recession, and why so many banks and securities entities failed. As a retired banker I could relate closely to the story: I lived it. Its a great read that should interest anyone in finance.

So aggravating I couldnt put it down

Would you listen to All the Devils Are Here again? Why?

Yes, I probably will read it agian. There are so many characters involved in the obscene public rip off to bail out the banks and wall street after the government set the pins up in the first place. When I cool down I will listen to it again.

What did you like best about this story?

its breadth. I have read quite a number of books on the meltdown and the bailout, most focused mostly on one aspect of it, this book covers the home loan industry, the elected officials, regulators, banks, government entities like fannie mae, wall street...as the title says.

Any additional comments?

This is a good primer for the financial meltdown, although it is not as chronoligically organized as I would have liked. There was an obvious positive bias by the author toward a couple of characters in the book which made me wonder if they were previous employers or perhaps helped with inside info for the book. Anyone reading this book will find it difficult to find much compassion for any of the characters, or for that matter, anyone in this country who had an inside knowledge of what was going on and did nothing. The truth be told, all the devils are still here.

In no way disapointed

What did you love best about All the Devils Are Here?

I liked the detail given on each person discussed. It's interesting to see the lack of ethics that lead to the overall fall.

Like a detective novel for economics

The authors present a story of how the financial collapse of 2008 came about, describing not just the political and market forces, but the organizations and the personalities that contributed to the bad decisions. It helps provide a very strong understanding of how a drive for increased income can make people ignore risks, especially if they can turn a blind eye and blame others for misrepresenting those risks.

Comprehensive

This is quite a comprehensive recounting of the history that led to the 2009 debacle. Dennis Boutsikaris, quite an intelligent actor, was an excellent choice for narrator. Easy to follow and quite interesting,

The Pro version of the Big Shot.

Thoroughly enjoyed this listen. An insight behind the greed and corruption behind the mortgage backed security market. Having listened to a good book like this for a long while. Credit well spent.