In their recent book, All the Devils are Here, Bethany McLean and Joe Nocera deliver a detailed account of the events leading up to the recent housing bubble and subsequent financial crisis. The authors, both of whom are renowned business journalists, manage to delve deep into the subject while preserving readability for a wide audience. For the uninitiated, McLean and Nocera provide a crash course in high finance. Their descriptions of financial products like collateralised debt obligations (CDOs) and credit default swaps (CDSs) are clear, making it possible for the educated layperson to follow along.
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