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Life Inside the Great Mortgage Meltdown
W. W. Norton & Company
June 2009
On Sale: June 15, 2009
240 pages
ISBN: 0393067947
EAN: 9780393067941
Hardcover
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Non-Fiction
The fiasco that sank millions of Americans, including one
journalist, who thought he knew better. A 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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