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The ongoing tumult in financial markets and the global economy began when some of our most esteemed financial institutions, our government, and even average citizens abdicated their collective responsibilities, eventually selling out investors and selling off the American Dream itself.
From critically acclaimed investigative journalist and CNBC personality Charles Gasparino comes a sweeping examination of the most volatile, anxiety-ridden era in our nation's socioeconomic history. The winner of the 2009 Investigative Reporters and Editors Award for Books, The Sellout traces the recent implosion of the financial services business back to its roots in the late 1970s, when Wall Street embraced a new business model predicated on enormous risk. Gasparino reveals a startling trail of culpability—from the government bureaucrats who crafted housing policies to the Wall Street firms that underwrote and invested in risky debt, to the mortgage sellers who indiscriminately handed out loans, and finally to the homeowners who thought they could afford mansions on blue-collar wages.--This text refers to an alternate Paperback edition.
If you want to understand the corruption of what is going on, this is a great book to read.
This is what I liked about the book since as somebody who is working in the industry, I was fearing that Charles would take his best shots against us.
It is a text book of sorts with terms and definitions that are finally easy for a novice to understand; yet, it reads like a mystery novel.
The best book about what really happened in 07-08. This was not about anything thing greed and ego.Published 3 months ago by aldante
I enjoyed this book it gives a great time line and fact file on the immense excess of these investment crooks.It seems the only thing bigger than their pay was their egos!Published 3 months ago by John E
Educating yet read like a novel. Gasp'o has a unique sense of what is meaningful and real. I'll look at his other works.Published 4 months ago by Benjamin
I read Gasparino's "The Sellout" after reading "Circle of Friends." Many have said "The Sellout" is his better work, but I found them to be of the same quality. Read morePublished 5 months ago by M. Lozano
The author does a great job recounting the use of risk at financial institutions since the 1970's and the regulatory changes that fostered risky behavior. Read morePublished 6 months ago by gappo
Great book that attempts to put all the complexity that lead up to this last crash in simple terms. ReadPublished 7 months ago by Scott Robinson
Everything you need to know how Wall Street screws you over and continues to do so. To these CEOs, your money is their money and by God you better not ask for it back. Read morePublished 9 months ago by J. Stevens