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Faber explains the events of the previous seven years that planted the seeds for the worst economic crisis since the Great Depression. He begins in 2001, when the Federal Reserve embarked on an unprecedented effort to help the economy recover from the attacks of 9/11 by sending interest rates to all-time lows. Faber also provides an up-close look at where the crisis was incubated and unleashed upon the world - Wall Street - and introduces us to insiders, from investment banks and mortgage lenders to ratings agencies, that unwittingly conspired to insure lending standards were abandoned in the head-long rush for profits.
Customer ReviewsMost Helpful
By Jonnie on 06-21-10
Best book explaining the recent economic collapse
This is easily the best book to understand the broad range of issues concerning the recent economic meltdown in the US. I have read half a dozen books on these issues and this was the best. The Big Short and The World's Greatest Trade were more interesting but you came away confused on what caused the overall problems. Faber takes you through step by step in a clear and interesting manner.
5 of 5 people found this review helpful
By G. Robert on 03-11-10
Clear & understandable
From complex financial instruments to political climate Mr. Faber writes on of the most balanced and professional explanations for the current financial situation. If you want to know how we got here, this is a "must read."
4 of 4 people found this review helpful