Well written & a very good run through of what went wrong in both the housing market & the securitization industry. The book builds up to the point where the collapse happens. The fallout is quite educational as many of the participants on the winning side begin to realize that they are staring counterparty risk right in the face. In other words, they have the winning bets, but only if the counterparty holding the losing bets doesn't go belly up & file for bankruptcy!
Buy it & read it. Then go out & buy The Big Short (also available on AMAZON).