Ritholtz, whose Big Picture economics and financial blog has become must-reading, had what should have been a publisher's dream. The blogger came up with a book idea in the spring of last year on the financial collapse. McGraw Hill bought the rights for a modest advance and he set about writing it.
Events cooperated. As he was writing, Lehman Brothers and AIG collapsed, Goldman and Morgan Stanley became bank holding companies, and the Bush administration rolled out its massive $700 billion TARP plan to aid the banking sector.
In short, Ritholtz was writing Bailout Nation before we became a nation of bailouts.
It looked like it might be a hit. Ritholtz was told that a month away from publication, 22,000 copies had been pre-sold, a high number.
But now McGraw Hill has dropped the book, apparently concerned about the shots Ritholtz took at S&P.