This comprehensive history and analysis should be a standard text for all who study economics, business and politics. Goldmann's indepth dissection of the events leading up to and creating the atmosphere that resulted in the "meltdown of 2007-2008" provides what should be a useful tool for all of us who are living through the effects of that crisis in the US and around the world, and in particular for those who are and will become the economists and economic leaders of the future. The writing is clear, uncompromising and fully transparent about the crisis and helps the reader understand how fraud insidiously crept into economic policy-making during the years and decades preceding the crisis. Highly recommended!
As the saying goes, those who don't learn from the mistakes of the past are destined to repeat them. That, in itself, is reason enough to read this book! In fact, Goldman's insights regarding the events of questionable legality and the blatant disregard of potentially devastating repercussions of greed -- both of which fueled the global financial crisis -- provide a retrospective like none other. He answers virtually every question about how and why the crisis occurred and leaves no stone unturned as he paints a sobering picture of widespread fraud over the years leading up to the crash.
This is in the book: "despite the occassional noble efforts of Washington insiders such as John McCain, ..." John McCain played a leading roll in the savings and loan scandal and should have gone to jail. He was best friends with Keating. McCain defines the problem. It's difficult to take this book seriously.