The ongoing tumult in financial markets and the global economy began when some of our most esteemed financial institutions, our government, and even average citizens abdicated their collective responsibilities, eventually selling out investors and selling off the American Dream itself.
From critically acclaimed investigative journalist and CNBC personality Charles Gasparino comes a sweeping examination of the most volatile, anxiety-ridden era in our nation's socioeconomic history. The winner of the 2009 Investigative Reporters and Editors Award for Books, The Sellout traces the recent implosion of the financial-services business back to its roots in the late 1970s, when Wall Street embraced a new business model predicated on enormous risk. Gasparino reveals a startling trail of culpability - from the government bureaucrats who crafted housing policies to the Wall Street firms that underwrote and invested in risky debt, to the mortgage sellers who indiscriminately handed out loans, and finally to the homeowners who thought they could afford mansions on blue-collar wages.
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"A great overview of the personalities on Wall Street and their lack of understanding of the financial crisis they were creating." — Jim (4 out of 5 stars)
"A great overview of the personalities on Wall Street and their lack of understanding of the financial crisis they were creating."
" He is an insider and his story sounds right. He gives a very interesting look into that world. It's enough to make you sick! "
" Good overview for the financial crisis. It goes beyond the "bush's fault" mentality. "
" One of the best explanations of the origins of the financial crisis! "
" Great read. Excellent job explaining what happened and why. "
" I read this to hear what Gasparino had to say about Merrill Lynch. Very good book. I learned alot. "
" Interesting subject matter, well presented, but should have been edited for simplicity and length. The Sellout could have been shorter and easier to read, while still conveying the same information. "
Charles Gasparino is a senior correspondent for the Fox Business Network and the Fox News Channel, where he reports on major developments in the world of finance and politics. A former writer for the Wall Street Journal and Newsweek, he has also served as a columnist for the New York Post and the Huffington Post as well as a contributor to the Daily Beast, New York Magazine, and Forbes. Gasparino is a recipient of numerous business journalism awards, including the prestigious Investigative Reporters and Editors Award for The Sellout. His other noteworthy books include Blood on the Street and King of the Club.
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