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The Foreclosure of America: Life Inside Countrywide Home Loans and the Selling of the American Dream Paperback – Bargain Price, April 6, 2010


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Product Details

  • Paperback: 384 pages
  • Publisher: Berkley Trade; 1 edition (April 6, 2010)
  • Language: English
  • ISBN-10: 0425233766
  • ASIN: B0042P5AL8
  • Product Dimensions: 8.4 x 5.4 x 1.1 inches
  • Shipping Weight: 13.6 ounces (View shipping rates and policies)
  • Average Customer Review: 2.7 out of 5 stars  See all reviews (29 customer reviews)
  • Amazon Best Sellers Rank: #2,196,966 in Books (See Top 100 in Books)

Editorial Reviews

Review



About the Author

Adam Michaelson is a former Senior Vice President of Marketing at Countrywide. He now runs the Michaelson Marketing Group and has provided marketing counsel to numerous Fortune 100 clients.

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Customer Reviews

Michaelson also promises not to reveal any business secrets.
Loyd E. Eskildson
Just like the terrible mortgages he says he is going to talk about, this book offers nothing close to what it promises.
Peter C. Forcey
The Title and Cover Design of this book was very catching when I first walked by it in Barnes & Noble.
deuce

Most Helpful Customer Reviews

12 of 13 people found the following review helpful By C. Ryan on November 21, 2009
Format: Hardcover
The book is not about Countrywide's mortgage miscalculation. Rather it's about Countrywide's VP of junk mail and online banner ads. Page after page of how he and his "team" decided which type of junk mail envelope would make a nice addition to your trash can.

As a retired Navy officer I was particularly annoyed with the author constantly referring to his military past. He did two years in ROTC!!

Looks like the Countrywide gang found a way to keep selling even after the implosion.
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10 of 11 people found the following review helpful By Kid Charlemagne on October 28, 2009
Format: Hardcover Verified Purchase
This book was one of the worst I have read - and I have read quite a few about the housing crisis of the past few years. There was probably about three pages telling a sad story about a woman and her children who lost their house due to their ARM skyrocketing. I believe, a few chapters later, he repeats the same story. The rest of the book is all about the author himself and is very boring. Nothing substantial is in this book about Countrywide. Hence, a rip-off. If you want to read a very good book about the subprime mess including Ameriquest and Countrywide, buy: "Chain of Blame: How Wall Street Caused the Mortgage and Credit Crisis." That book is so good you won't want to put it down. A must for anyone wanting to read about the housing crisis and crash of 2007.
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8 of 10 people found the following review helpful By M. Perry on May 26, 2009
Format: Hardcover
The author sure writes a lot to tell us so little. On top of that, he comes across as a smarmy, egotistical *sshat more often than not. And enough with the italics, really -- the heavy, heavy use of itals nearly made this book almost unreadable. We get it, Adam: you think it's an important point. It's better to let your readers make the jump, though. Especially when you have so many damn "important points" on every page.
The cover illo got my attention, but the rest of the book failed to live up to any reasonable expectation of an "expose."
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3 of 3 people found the following review helpful By J. S. Phillips on March 27, 2010
Format: Hardcover
It has taken me three days just to get to page 95. For someone whose job it was to get and keep people interested in the product, the author certainly failed this time. Where were the editors? The book, so far, is devoid of fact and filled with water cooler gossip and characterizations, which, I'm guessing, is supposed to 'humanize' the employees, but merely shows their shallowness. I suspect that if I manage to finish this beast, I'll wish I could get the lost hours back.
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7 of 9 people found the following review helpful By lew on March 20, 2009
Format: Hardcover Verified Purchase
I am on page 80. He still is not working at Countrywide. First 80 pages - his childhood, his studies, his parents, his job history, his successes, his failures, his philosophical revelations about being here and there and doing this or that. And that he knew from day one that THIS will happen but nobody was listening. I DON'T CARE! I just wanted to know what happened to mortgage industry. Sorry, I have no partience and time to go through all this.

Normally I would return this book to Amazon. Fortunately, there is somebody's birthday this weekend. I have a gift. Maybe this person will have more patience...
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6 of 8 people found the following review helpful By C. Poolus on January 20, 2009
Format: Kindle Edition
Adam Michaelson's book is an eye opener, to say the least. I have to compare the book to a major water cooler gossip session, laying bare the motivation (greed), politics (of course) and inner workings of Countrywide from someone who was actually ON the inside. For those of us who've watched in horror as this economic disaster has unfolded, the book answers quite a few questions about how the landslide began, and how it evolved into the avelanche that's wiped out the lives of so many.
The book is written in such a manner as to make the reader feel as though they're receiving insider trading tips. There are even little excerpts of humor sprinkled liberally throughout the book, which, by the time you run across them, god knows you'll need the laugh.
Interesting enough that I read it through without stopping.
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10 of 14 people found the following review helpful By deuce on March 8, 2009
Format: Hardcover
The Title and Cover Design of this book was very catching when I first walked by it in Barnes & Noble. I've got to hand it to Adam Michaelson, he does a slick job in marketing his book, e.g. Amazon.com, the 'Newly published books table' at Barnes & Noble, TV interviews, etc, after all this guy's a marketing guy. You just got ripped off.

Adam Michaelson shows his egotistical nature by devoting half this book on his career, promotions, job experience, and just boring job detail. After all, he is a CMO. What?....you say. What is a CMO? I've heard of a CEO. Even a CFO and a COO, but a CMO? Well, Adam has filled his book full of boring fluff to convince you how important a CMO is.

From my reading of this book, one would assume that Adam was actually a manager of the company's Web Page Development. There is so much attention to job detail with web design, the reader will most certainly fall asleep.

.... "In cases like this that involved the subjectivity of creative, I would call upon my Direct Marketing background and, maximizing the power of the web, try to pick just two or three concepts to test. By rotating two or three banner concepts into the same media buy space, within one day I could clearly see which banner would be generating the greatest number of clicks, or responses. When in doubt of subjective creative choices, always let the marketplace - your customers - tell you which one will be most profitable via their response behavior." ....

Adam certainly brings out his self-centeredness by continually focusing on his web experience. This book is wordy, and is is filled throughout with boring excerpts of who else? .....Adam Michaelson:

.... 'Yes, cuff links.
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