All the Devils Are Here

The Hidden History of the Financial Crisis

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On sale Nov 16, 2010 | 15 Hours and 30 Minutes | 9781101461839
Grades 9-12 + AP/IB

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The New York Times bestseller hailed as "the best business book of 2010" (Huffington Post).

 

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.

Bethany McLean is a writer for Vanity Fair and the coauthor of The Smartest Guys in the Room. She was previously editor at large of Fortune and spent three years working at Goldman Sachs. She lives in Chicago. View titles by Bethany McLean
Joe Nocera is an op-ed columnist for The New York Times. His previous books include All the Devils Are Here (with Bethany McLean), Good Guys and Bad Guys, and A Piece of the Action. He has won three Gerald Loeb Awards for excellence in business journalism and was a finalist for a Pulitzer Prize in 2006. Nocera lives in New York City. View titles by Joe Nocera
“For those readers who have not immersed themselves in the murky tale of the way dubious housing finance became entangled with Wall Street’s casino culture, McLean and Nocera offer as legible an overview as exists. More than offering just a backward look, it helps explain the most troubling business headlines of the moment, as well as those that are certain to come.” – New York Times
 

Hard-hitting reporting and fluent writing bring the utter devastation of the Great Recession to life—with John Cassidy's How Markets Fail (2009) an essential aid to understanding where all the money went, and who benefited.  - Kirkus Reviews

 
Unlike many of the quickie books on the crisis, All the Devils Are Here is tightly written, methodical and unsensationalistic…it's very much worth reading for its damning conclusions and its craftsmanship.  – Washington Post

About

The New York Times bestseller hailed as "the best business book of 2010" (Huffington Post).

 

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.

Author

Bethany McLean is a writer for Vanity Fair and the coauthor of The Smartest Guys in the Room. She was previously editor at large of Fortune and spent three years working at Goldman Sachs. She lives in Chicago. View titles by Bethany McLean
Joe Nocera is an op-ed columnist for The New York Times. His previous books include All the Devils Are Here (with Bethany McLean), Good Guys and Bad Guys, and A Piece of the Action. He has won three Gerald Loeb Awards for excellence in business journalism and was a finalist for a Pulitzer Prize in 2006. Nocera lives in New York City. View titles by Joe Nocera

Praise

“For those readers who have not immersed themselves in the murky tale of the way dubious housing finance became entangled with Wall Street’s casino culture, McLean and Nocera offer as legible an overview as exists. More than offering just a backward look, it helps explain the most troubling business headlines of the moment, as well as those that are certain to come.” – New York Times
 

Hard-hitting reporting and fluent writing bring the utter devastation of the Great Recession to life—with John Cassidy's How Markets Fail (2009) an essential aid to understanding where all the money went, and who benefited.  - Kirkus Reviews

 
Unlike many of the quickie books on the crisis, All the Devils Are Here is tightly written, methodical and unsensationalistic…it's very much worth reading for its damning conclusions and its craftsmanship.  – Washington Post

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