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The Monster: How a Gang of Predatory Lenders and Wall Street Bankers Fleeced America--and Spawned a Global Crisis by Michael W. Hudson
Reviews “Magnificently and heartbreakingly told.... What I appreciated most about this tremendous, well-documented book is that it shows vividly that really filthy, face-to-face fraud and hard-sell bullying are the original ingredients, the required counters, in the increasingly abstract financial instruments that brought the economy down around our ears.”--The Boston Globe
“Whereas much of the reporting of the economic meltdown has been focused on Wall Street, Hudson has a talent for describing what was happening on the ground. He takes us on a tour of the financial carnival tent pitched by subprime factories like Ameriquest… Did some people borrow beyond their means? Certainly. But as Hudson demonstrates, the public was no match for an industry that lived off deceit fueled by Wall Street.”—Time Magazine"
“As engagingly written as Michael Lewis’ The Big Short (which chronicles the struggles the winners endured during the last bubble), as caustic and trenchant in its analysis of the dotty economic theories that underpin our bubble economy as Yves Smith’s ECONned; and at least as cogent of the big-picture power politics as Simon Johnson’s 13 Bankers, The Monster also does what those books don’t: It reveals the inner lives of both the victims and the perpetrators of predatory lending.”—Baltimore City Paper
“Essential reading for anyone concerned with the mortgage crisis.”—Library Journal
“A chilling account of the subprime-loan scandal.... As appalling as it is informative, Hudson’s tale, which hasn’t ended by a long shot, should find a large readership.”—Booklist
“Hudson is a master of context, supplying the pre-1990s history within the mortgage-lending business, Wall Street and the government-regulation realm. A knowledgeable, clearly written exposé.”—Kirkus Reviews"
[amazon]805090468[/amazon]
Reviews “Magnificently and heartbreakingly told.... What I appreciated most about this tremendous, well-documented book is that it shows vividly that really filthy, face-to-face fraud and hard-sell bullying are the original ingredients, the required counters, in the increasingly abstract financial instruments that brought the economy down around our ears.”--The Boston Globe
“Whereas much of the reporting of the economic meltdown has been focused on Wall Street, Hudson has a talent for describing what was happening on the ground. He takes us on a tour of the financial carnival tent pitched by subprime factories like Ameriquest… Did some people borrow beyond their means? Certainly. But as Hudson demonstrates, the public was no match for an industry that lived off deceit fueled by Wall Street.”—Time Magazine"
“As engagingly written as Michael Lewis’ The Big Short (which chronicles the struggles the winners endured during the last bubble), as caustic and trenchant in its analysis of the dotty economic theories that underpin our bubble economy as Yves Smith’s ECONned; and at least as cogent of the big-picture power politics as Simon Johnson’s 13 Bankers, The Monster also does what those books don’t: It reveals the inner lives of both the victims and the perpetrators of predatory lending.”—Baltimore City Paper
“Essential reading for anyone concerned with the mortgage crisis.”—Library Journal
“A chilling account of the subprime-loan scandal.... As appalling as it is informative, Hudson’s tale, which hasn’t ended by a long shot, should find a large readership.”—Booklist
“Hudson is a master of context, supplying the pre-1990s history within the mortgage-lending business, Wall Street and the government-regulation realm. A knowledgeable, clearly written exposé.”—Kirkus Reviews"
[amazon]805090468[/amazon]