Reckless Endangerment

How Outsized Ambition, Greed, and Corruption Led to Economic Armageddon

By Gretchen Morgenson; Joshua Rosner; L. J. Ganser (Performed by)
(Brilliance Corporation, MP3 CD, 9781455851669)

Publication Date: February 2012

Other Editions of This Title: Hardcover, Compact Disc, Compact Disc

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Description
In Reckless Endangerment, Gretchen Morgenson exposes how the watchdogs who were supposed to protect the country from financial harm were actually complicit in the actions that finally blew up the American economy. Drawing on previously untapped sources and building on original research from coauthor Joshua Rosner ? who himself raised early warnings with the public and investors and kept detailed records ? Morgenson connects the dots that led to this fiasco. Morgenson and Rosner draw back the curtain on Fannie Mae, the mortgage-finance giant that grew, with the support of the Clinton administration, through the 1990s, becoming a major opponent of government oversight even as it was benefiting from public subsidies. They expose the role played not only by Fannie Mae executives but also by enablers at Countrywide Financial, Goldman Sachs, the Federal Reserve, HUD, Congress, and the biggest players on Wall Street, to show how greed, aggression, and fear led countless officials to ignore warning signs of an imminent disaster. Investigating the origins of the financial crisis means shedding light on exceedingly dark corners in Washington and on Wall Street. Hidden in these shadows are people, places, and incidents that can help us understand the nature of this disaster so that we can keep anything like it from happening again. Character rich and definitive in its analysis, this is the one account of the financial crisis you must listen to.



NPR
Wednesday, Dec 28, 2011

It's been more than three years since the government bailed out mortgage giants Fannie Mae and Freddie Mac. Gretchen Morgenson, of The New York Times, has co-authored a book about Fannie and Freddie called Reckless Endangerment. Morgenson talks to Linda Wertheimer about the taxpayer-owned entities. More at NPR.org

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