You might find a remarkable similarity to how these authors describe what happened to what I have been saying on this blog for quite a long time.

My only quibble is their contention that Democrats don’t want to admit that the government screwed up. Their description of how Fannie Mae and Freddie Mac got involved in the mess is exactly what I have said on this blog and on many discussion boards.

The Democrats and I were complaining about the laxity of the regulatory agencies in the executive branch run by George Bush. The description of how politics got in the way of regulators who wanted to put a stop to this is described quite well for the S & L fiasco in the book The Best Way To Rob A Bank Is To Own One. A book that I have featured on this blog.

Let me give credit to RichardH for making me look for something to post about these two authors and their new book All the Devils Are Here: The Hidden History of the Financial Crisis. I have been touting Naomi Klein’s book, but RichardH thought that Bethany McLean was prettier. Actually, my suspicion is that RichardH is just trying to avoid admitting that he won’t read Naomi Klein’s book because I recommended it to him.