Reckless endangerment : how outsized ambition, greed, and corruption led to economic armageddon

 by Gretchen Morgenson. Respected journalist Morgenson and financial/policy analyst Rosner set out to investigate the financial crisis of 2008: how such a thing could happen in America in the new millennium. They name those involved, how they did it, and why. We learn about self-interested and politically influential people, particularly in Washington and on Wall Street, as well as those who tried in vain to warn of the impending crisis but were squashed or ignored. Originating with the 1994 directive to expand home ownership among Americans, the authors paint a picture of unintended consequences, greed, good intentions, and corruption; they report lies (involving politicians, corporate executives, bankers, and borrowers), laxity by most regulators, and the disappointing role of credit-rating agencies. Morgenson and Rosner base this book on interviews and conversations conducted on parallel paths, beginning in the mid-1990s, and a wide range of secondary sources. This excellent, thought-provoking book is a must-read. --Booklist (Check Catalog)