"Hell is empty, and all the devils are here." -Shakespeare, The Tempest 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. Among the devils you'll meet in vivid detail: • Angelo Mozilo, the CEO of Countrywide, who dreamed of spreading homeownership to the masses, only to succumb to the peer pressure-and the outsized profits-of the sleaziest subprime lending. • Roland Arnall, a respected philanthropist and diplomat, who made his fortune building Ameriquest, a subprime lending empire that relied on blatantly deceptive lending practices. • Hank Greenberg, who built AIG into a Rube Goldberg contraption with an undeserved triple-A rating, and who ran it so tightly that he was the only one who knew where all the bodies were buried. • Stan O'Neal of Merrill Lynch, aloof and suspicious, who suffered from "Goldman envy" and drove a proud old firm into the ground by promoting cronies and pushing out his smartest lieutenants. • Lloyd Blankfein, who helped turn Goldman Sachs from a culture that famously put clients first to one that made clients secondary to its own bottom line. • Franklin Raines of Fannie Mae, who (like his predecessors) bullied regulators into submission and let his firm drift away from its original, noble mission. • Brian Clarkson of Moody's, who aggressively pushed to increase his rating agency's market share and stock price, at the cost of its integrity. • Alan Greenspan, the legendary maestro of the Federal Reserve, who ignored the evidence of a growing housing bubble and turned a blind eye to the lending practices that ultimately brought down Wall Street-and inflicted enormous pain on the country. Just as McLean's The Smartest Guys in the Room was hailed as the best Enron book on a crowded shelf, so will All the Devils Are Here be remembered for finally making sense of the meltdown and its consequences.
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Chronicles the major contributors to the economic crisis, sharing narrative assessments of the roles played by Wall Street, the mortgage industry, the U.S. government, and leading financial institutions, and discusses the ways in which human psychology was a primary factor.
Twenty years ago, in a series of mysterious, incandescent writings, David Seabrook told of the places he knew best: the declining resort towns of the Kent coast. The pieces were no advert for the local tourist board. Here, the ghosts of murderers and mad artists crawl the streets. Septuagenarian rent boys recall the good old days and Carry On stars go to seed. Clandestine fascist networks emerge. And all the time, there is Seabrook himself - desperate perhaps, and in danger. Dark, strange and immediate, this is a classic work of sui generis British literature. There are devils here, and the reader will remember them.
Chronicles major events that contributed to today's economic climate, sharing critical narrative assessments of the roles played by Wall Street, the mortgage industry and the U.S. government while placing an emphasis on leading financial institutions and the ways in which human psychology was a primary factor.
The sixteenth in Louise Penny's #1 New York Times bestselling Chief Inspector Gamache novels.
This Shakespearean literary themed 8.5 x 11 inch blank lined journal, sports a typeset quote, complete with runny ink blotches, reading 'Hell is empty and all the devils are here.', from The Tempest, Act 1, Scene 2, Page 10. An ideal drama themed gift for lovers of the bard, of theatre, students, and actors. Also makes a funny halloween gag gift for teachers returning to school, or politicians elected to senate, congress, or Westminster after mid term or general elections. This fantastic 127-page notebook is just perfect for all your noting needs. Whether you're scribbling down your most secret inner thoughts or carefully copying out your favourite recipe for dip; recording reflections and reminiscences or setting out your aims and objectives for the coming year. You can keep it hidden by your bed, carry it conveniently in your school-bag or pull it out, with more than a little theatrical flourish, at your next big meeting. You can fill it up with lines from Shakespeare or your own private verses. Iambic pentameter not required! Key Features: 8.5"x 11" - conveniently sized, and just perfect for your school bag, backpack, or desk 125 fully usable white lined pages PLUS a bookplate page for your own name AND with a meaningful quotation on the reverse side Printed on high-quality paper throughout Glossy cover bearing a quote from The Tempest in a stylised typeface Perfect for use as a journal, notebook, diary or...well, you choose
According to Bethany McLean and Joe Nocera, two of America's most acclaimed business journalists, no-one has put all the pieces of the financial crisis together. The finger was pointed at greedy traders, cowardly legislators and clueless home buyers, but many devils helped bring hell to the economy. All The Devils Are Here goes back several decades to explore the motivations of everyone from CEOs and politicians to anonymous lenders, borrowers and Wall Street traders. It exposes the hidden role of companies including AIG and Goldman Sachs. It delves into the powerful mythology of homeownership. And it proves that the crisis ultimately wasn't about finance at all; it was about human nature. Bethany McLean's The Smartest Guys in the Room was the best Enron book on a crowded shelf. All the Devils Are Here will be remembered for finally making sense of the meltdown.
All The Devils Are Here - By Michael Saad At the age of 10, Mom gave me a puff of weed and Dad started cooking meth in the basement. Mom was always high. I thought all families were like that. But when the local gang broke into our home threatening everyone's life, I knew something was wrong with my family. Diane and Doug Trillamede fostered me at 14, supplying a supportive and loving home. The curse of drugs and all the devils threatening my life seemed to be gone. But they crept back. And now my brother and his family need help, before the devils consume them. From the author of White Army Stand and The Terrors of the Earth comes a story about the bonds of family, even if they are forged in chaos.
From the acclaimed author of Knockemstiff—called “powerful, remarkable, exceptional” by the Los Angeles Times—comes a dark and riveting vision of America that delivers literary excitement in the highest degree. In The Devil All the Time, Donald Ray Pollock has written a novel that marries the twisted intensity of Oliver Stone’s Natural Born Killers with the religious and Gothic overtones of Flannery O’Connor at her most haunting. Set in rural southern Ohio and West Virginia, The Devil All the Time follows a cast of compelling and bizarre characters from the end of World War II to the 1960s. There’s Willard Russell, tormented veteran of the carnage in the South Pacific, who can’t save his beautiful wife, Charlotte, from an agonizing death by cancer no matter how much sacrificial blood he pours on his “prayer log.” There’s Carl and Sandy Henderson, a husband-and-wife team of serial killers, who troll America’s highways searching for suitable models to photograph and exterminate. There’s the spider-handling preacher Roy and his crippled virtuoso-guitar-playing sidekick, Theodore, running from the law. And caught in the middle of all this is Arvin Eugene Russell, Willard and Charlotte’s orphaned son, who grows up to be a good but also violent man in his own right. Donald Ray Pollock braids his plotlines into a taut narrative that will leave readers astonished and deeply moved. With his first novel, he proves himself a master storyteller in the grittiest and most uncompromising American grain.
In a way, the situation is ironic: housing was at the root of the financial crisis, and six years after the meltdown, housing finance is still the greatest unsolved issue. The U.S. housing market is roughly $10 trillion, making it one of the largest segments of the bond market. Roughly 70 percent of the American population has a mortgage, and for most people, the mortgage is the most important financial instrument in their lives. But until the financial crisis, few people knew the essential role that Fannie Mae and Freddie Mac play in their mortgages. Given the $188 billion government bailout of the two firms the most expensive bailout in history the politics surrounding housing are worse than they've ever been, and the two gigantic firms sit in limbo. Best-selling investigative journalist Bethany McLean, the coauthor of The Smartest Guys in the Room andAll the Devils Are Here, explains why the situation is dangerous and unsustainable, and proposes a few solutions from the perfect, but politically unfeasible to the doable, but ugly.