Thursday, October 13, 2011

Did Fannie Cause the Disaster? — Jeff Madrick and Frank Partnoy

Jeff Madrick and Frank Partnoy review Reckless Endangerment: How Outsized Ambition, Greed, and Corruption Led to Economic Armageddon by Gretchen Morgenson and Joshua Rosner, Times Books, at The New York Review of Books.
Professor Frank Partnoy is the George E. Barrett Professor of Law and Finance and is the director of the Center on Corporate and Securities Law at the University of San Diego. He is one of the world’s leading experts on the complexities of modern finance and financial market regulation.
Partnoy is of the stature and calibre of Professor William K. Black, but not as prolific on the Internet. What he writes is a must-read in the field of financial forensic investigation.

Did Fannie Cause the Disaster? by Jeff Madrick and Frank Partnoy

1 comment:

John Zelnicker said...

For those interested in a better analysis of the causes of the financial crisis, I recommend "All The Devils Are Here -- The Hidden History of the Financial Crisis" by Bethany McLean and Joe Nocera. They put the blame where it belongs: mostly on the mortgage originators (of which Countrywide and Angelo Mozilo were the worst) and the regulators who refused to regulate, along with the Wall St. bankers who developed all those CDO's layered on top of each other.
I have never seen such pure, unadulterated GREED as that of the major players in this debacle.