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Showing 1-10 of 161 reviews(Verified Purchases). See all 275 reviews
on July 30, 2017
Great writer, absolutely. No, I'm not related, just a better informed person.

She makes a tough subject understandable without the machinations and half truths you get with some authors (like the one who had a movie made of his book).
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on August 15, 2017
A good discussion of the prelude to the crisis and its early days, but it seems the authors felt it was more important to group similar topics by chapter without as much care being taken to make the timeline of all of these inter-weaving events as clear. Frequently the discussion will say things like "In March..." without clarifying the year being discussed and that can be confusing with all of the backtracking going on. The problem is further magnified when you get into the events immediately preceding the crisis. Overall though, a good window into the events and decisions that helped bring about the 2008 crisis.
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on May 15, 2014
A very entertaining and insightful book. Similar in subject matter to Michael Lewis's "The Big Short", but this author approaches the Great Crash from the higher-level perspective of the Washington regulators and policymakers. Reading about the near-mutinous activities of the Federal regulators and certain high-level government officials leaves one with serious concerns about the systemic issues with which our regulatory framework is fraught. The sad fact is, at the end of this book, one sees that nothing has changed--and in fact the gates have been thrown open by the Federal government for significantly worse crashes in the future. This book is the perfect complement to Michael Lewis's book and just as important for policymakers to study.
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on February 21, 2011
I am an english major with a law degree and have read my share of books in my lifetime. I can say without any hesitation that this book should be read by every American, whether your flag swings to the right or left, that is interested in knowing what happened leading up to the crash of 2008.

This book takes the reader from the mid 1970's through to 2008 with an easy to comprehend depiction of all the players and key events that culminated in the the bursting of the real estate/stock market bubble. I have read many other works and listened to other reports about the cause of the current recession. Almost every account suffers from the same shortcoming. Namely the cause of the 2008 crash is usually depicted as caused by a relatively recent and isolated course of events and the blame is largely put on one entity such as the federal government, the big banks or Fannie Mae.

"All the Devils Are Here" on the other hand deftly explains how many entities contributed to the crash of 2008, from the federal government to Fannie Mae to the securities ratings agencies to the Wall Street superpowers like Goldman Sachs. This book furthermore explains how the creation of the massive volume of subprime loan portfolios, collateralized debt obligations and credit default swamps never could have been possible absent the synergistic cooperation of all these key players together.

Finally, this book points out how for decades there had been many individuals who shouted from rooftops warning of the toxic nature of this Frankenstine-like financial machine. However each and every one of these individuals calling for beefed up regulation and transparency were swiftly and summarily put down, usually by the intoxicating rhetoric of the Chicagoan school of economics led by Alan Greenspan and his "committee to save the world".

I would absolutely recommend this book to anybody interested in taking their head out of the sand and figuring out what exactly happened during one of the most important chapters of American and world history.
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on August 18, 2013
I have read many books on this subject and I have to say that one is one of the best I've read.
It takes you back to the beginning, the unknown beginning of the entire mess. This solid narrative is well written and well arraigned in the way that each piece Leeds into one another to propeller the story along as if it were a tout and gripping spy novel and hey why not, the details uncovered here are every bit as suspenseful as the a good thriller.
When I was looking for a another book to read after The Big Short (which was good and I do have a review of) I wanted something with a little more detail. I had previously read Too Big To Fail after I watched the HBO original movie and it was great I thought but it focused mainly on what the government did to save the world and I wanted more about what had led to the government having to save the world. All the Devils are Here is almost exactly what I was looking for. It has all the detail leading up to the crises and then sort of just drops off and assumes I guess that you have watched the news or read another book. If you want a complete look then I you have to read two books. I would recommend that you read All the Devils are Here to get the back ground and then read Too Big To Fail to get the details of the crises itself and even then the story (since its so big) is not complete.

I liked this book earnestly but I am torn between the four star rating that I gave it and three stars. I wish I could do three and a half. I ultimately gave it four because I rated the book on what it is and not why I wanted to be.
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on March 22, 2017
I have read a few books detailing the financial crisis of 2008. This one is the best I've read so far. If you are interested in finance in general or the crisis, read this book!
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on January 19, 2015
I liked the book so much I bought it twice. Well, I guess in reality I read it and proceeded to forget what I read and inadvertently bought it a second time about a year after the first time. That could be because there were so many details, so many characters, so many events that I had managed to forget they were all in the same book. The histories of each company or character are brief and run together so that you may remember some names and recall that specific ones were the "bad guys," but it might take a second reading to remember why they were the "bad guys."

I don't recommend that you buy the book twice, but reading it twice is probably a very good idea just so you can remember who did what to whom.
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on December 26, 2016
This is a meticulously researched and gripping history of the financial crisis. As someone who was starting his career at one of the major players just prior to the onset, can attest that the details of the inner workings of that institution are ( to my knowledge ) spot on. Required heading for anyone interested in the policy causes and implications as well... the list of villains is long and the heroes few.
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on May 1, 2011
I've read a number of books about the recent housing crash, and this book is by far the best. Some reviews have said that it doesn't assign blame. I'm not sure what they were reading, because there is plenty of blame to go around from Wall Street to the rating agencies to Fanny & Freddie to our elected representatives to the regulators... and let's not forget that person you see each morning in the mirror. There's plenty of blame to go around.

This book starts 30 years ago and shows the events and players involved in building the path to this crash. If you already have a simple answer in your head as to who to blame, then move on. This book is not for you. But if you really want to understand the background, then this is for you.

Yes there are a few errors, but nothing significant enough to keep you from understanding and getting the key points. It will help you understand the interplay between wall street, banks, mortgage companies (and their tricks), Fannie & Freddie, the highly structured derivatives, and hopefully you will be much smarter in dealing with some of these organizations in the future.

Highly recommended.
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on January 9, 2011
The authors have a profound knowledge of all the layers of the financial system, which allowed for the subprime mortgage fraud to develop and bring the entire system to it's knees. Maybe with one exception: they do not explain how the almost endless stream of fraudulent mortgages was created. Following the explanation of the authors it sounds as if the money came from investors. This is certainly true. But it would be interesting to follow the origination of this money beyond the level of investors. The investors haven't created the money which they "invest" into fraudulently rated tripple-A bonds. The investors either got the money from profits or from credits. And credits at the end are created out of thin air by those who hold the monopoly of money creation. My suspicion is that at the end the money creators must have encouraged this flood of money. But this book is an excellent starting point for further research to find an answer to the question: are the money creators really interested in getting the money paid back, which they have created out of thin air, or is their main interest in enslaving the rest of the population. They must know that all this money never will be paid back. I read so far until page 251. Maybe the answer comes on the next 100 pages. But this is not a criticism of this excellent book. It gives a detailed overview of the players and all the layers of this gigantic fraud. It reads like the most exciting suspense book one can imagine. But it's all real history.
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