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Times Books
September 2009
On Sale: September 15, 2009
352 pages
ISBN: 0805089802
EAN: 9780805089806
Hardcover
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Non-Fiction
How Main Street was hit byβand might recover fromβthe financial crisis, by The New York Timesβs national economics correspondent When the financial crisis struck in 2008, Main Street felt the blow just as hard as Wall Street. The New York Times national economics correspondent Peter S. Goodman takes us behind the headlines and exposes how the flow of capital from Asia and Silicon Valley to the suburbs of the housing bubble perverted Americaβs economy. He follows a real estate entrepreneur who sees endless opportunity in the underdeveloped lots of Floridaβuntil the mortgages for them collapse. And he watches as an Oakland, California-based deliveryman, unable to land a job in the biotech industry, slides into unemployment and a homeless shelter. As Goodman shows, for two decades Americans binged on imports and easy credit, a spending spree abetted by ever-increasing home valuesβand then the bill came due. Yet even in a new environment of thrift and pullback, Goodman argues that economic adaptation is possible, through new industries and new safety nets. His tour of new businesses in Michigan, Iowa, South Carolina, and elsewhere and his clear-eyed analysis point the way to the economic promises and risks America now faces.
 Media BuzzDiane Rehm Show - NPR - March 18, 2010
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