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Busted: Life Inside the Great Mortgage Meltdown Audiobook
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(3.02) - 146 listener ratings
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Publisher Description
Veteran New York Times economics reporter Edmund L. Andrews was intimately aware of the dangers posed by easy mortgages from fast-buck lenders. But, eager to buy a home and start a new life, he gave in to temptation and began a surreal adventure into the mortgage mayhem that nearly wrecked our economy.
Busted weaves together the author's own ride to the edge of bankruptcy with the tragicomic stories of his lenders, the Wall Street pros behind them, and the policymakers in Washington who were oblivious until it was too late. The story takes Andrews to the offices of Alan Greenspan, the mansions of subprime-mortgage millionaires in southern California, a despondent deal makers' convention in Las Vegas, and Wall Street. Rich with on-the-ground reporting, Busted is a darkly humorous exploration of the cynicism and self-destructive judgment that led to America's biggest economic calamity in generations.
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"This was a very interesting view on the whole financial crisis. The author not only was covering this subject for a a major newspaper...but found himself facing the very same financial issues he was researching and writing about. "
— Jen (4 out of 5 stars)
Quotes
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Dick Hill gives a rousing performance.... With Hill in command, this analysis of the financial meltdown makes for absorbing---and surprisingly entertaining---listening.
— Publishers Weekly Starred Audio Review -
“An outstanding, highly accessible primer on the epic rise and disastrous fall of the housing market…Andrews’s account sheds powerful light on one of the darkest corners of American business history.”
— Boston Globe -
“This deeply personal exposé is timely and sobering in its candor.”
— Publishers Weekly (starred review) -
“Dick Hill gives a rousing performance…With Hill in command, this analysis of the financial meltdown makes for absorbing—and surprisingly entertaining—listening.”
— Publishers Weekly (starred audio review)
Busted Listener Reviews
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" Edmund Andrews, the economics reporter for the New York Times offers a salutary lesson in how and why ordinary people all over America got so caught up in the real-estate bubble that they never stopped to think about how they were literally mortgaging their future. Andrews details how easy it was for him to get an enormous loan - far larger than he could ever hope to pay back - for a house that he didn't really need but wanted because he was caught up in a fever of love for his new wife, Patti. Busted is a fascinating read, but apparently, Andrews failed to disclose that Patti filed for the second of her two bankruptcies during the time-period he chronicles in Busted and frankly, even from her description in the book, she sounds less "ordinary person" and more entitled spendthrift (she can't seem to give up her J. Crew clothes or her expensive cheeses) and Andrews sounds like a besotted schmoe who ignored his own misgivings until it was too late. "
— Bibliophile, 2/7/2014 -
" The personal story was interesting. The technical side, not so much. And, not so different from what I knew from watching the news. "
— Moira, 1/18/2014 -
" Just finished this. Andrews does a great job of explaining the housing bubble that caused the financial crisis. The book is also a mea culpa from an admitted "reflexive believer in the free market," which is refreshing. "
— David, 1/16/2014 -
" Makes the mortgage meltdown interesting - factual breakdown interspersed with personal story of money gone wrong. "
— Nerak, 1/1/2014 -
" Very interesting. I was/am of the opinion that the consumer is at fault. Like, don't sue McDonald's because your coffee was hot. But, this book is truly making me waver on that. Greedy, deceiving lenders...hmmmm. "
— Acacia, 12/16/2013 -
" This is a good surface overview of the mortgage meltdown. The author's personal story is woven in with the big picture and that helped to keep my interest. There is a good teaser for the book here. "
— Bridget, 12/8/2013 -
" A quick and interesting read that provides a solid overview of subprime lending and the housing bubble. But the author's personal story was tiresome, and I ended up just thinking he was a jerk. "
— Rebecca, 11/30/2013 -
" I found this to be a little self-serving. The writer discusses how the housing mortgage market crashed and how he went down with it. And he knew better than to do it. "
— Susan, 11/20/2013 -
" An inside look by a subprime holder and economic writer of the lending institutions during the "Great Panic". Both personal and professional insights. "
— Mary, 11/14/2013 -
" I skimmed this and mostly read the author's own story of getting in over his head on a mortgage. It made me feel better about my own financial situation, that's for sure. "
— Marty, 6/5/2013 -
" too much finacial gobbley gook. i hope this man doesnt get to keep his home because of this book (i borrowed from the library). he gets what he desered. "
— beth, 2/19/2012 -
" Fasinating largely because Andrews, a New York Times economics writer, acknowledges that few individuals were in a better position to avoid the financial mistakes which ultimately will likely take his house. "
— Jonny99, 10/27/2011 -
" Good Book - Mix of personal story and actual economic events. "
— Paul, 1/20/2011 -
" Just finished this. Andrews does a great job of explaining the housing bubble that caused the financial crisis. The book is also a mea culpa from an admitted "reflexive believer in the free market," which is refreshing. "
— David, 9/12/2010 -
" Good Book - Mix of personal story and actual economic events. "
— Paul, 7/30/2010 -
" Interesting. This guy is a total loon for what he did. He makes a good case of this being a dual problem -- both on the banks and on the individuals. In different ways, different blame can be placed. <br/>That said, his bias was annoying. "
— Kelly, 5/12/2010 -
" Fasinating largely because Andrews, a New York Times economics writer, acknowledges that few individuals were in a better position to avoid the financial mistakes which ultimately will likely take his house. "
— Jonny99, 12/16/2009 -
" The personal story was interesting. The technical side, not so much. And, not so different from what I knew from watching the news. "
— Moira, 10/15/2009 -
" An inside look by a subprime holder and economic writer of the lending institutions during the "Great Panic". Both personal and professional insights. "
— Mary, 10/4/2009 -
" Very interesting. I was/am of the opinion that the consumer is at fault. Like, don't sue McDonald's because your coffee was hot. But, this book is truly making me waver on that. Greedy, deceiving lenders...hmmmm. "
— Acacia, 9/28/2009 -
" Makes the mortgage meltdown interesting - factual breakdown interspersed with personal story of money gone wrong. "
— Nerak, 9/7/2009 -
" Interesting book. I wonder if his new marrage lasts through all his overspending. I finished the book and still wonder if they stayed together. I have a much better understanding of the mortgage collapse. <br/>Quick read. "
— Janfiola, 8/31/2009 -
" A quick and interesting read that provides a solid overview of subprime lending and the housing bubble. But the author's personal story was tiresome, and I ended up just thinking he was a jerk. <br/> <br/> "
— Rebecca, 8/27/2009
About Edmund L. Andrews
Edmund L. Andrews is an economics reporter. A contributor to the New York Times for sixteen years, he is currently a senior Washington writer for the Fiscal Times. He lives in Silver Spring, Maryland.
About Dick Hill
Dick Hill, named a Golden Voice by AudioFile magazine, is one of the most awarded narrators in the business, having earned several Audie Awards and thirty-four AudioFile Earphones Awards. In addition to narrating, he has both acted in and written for the theater.