There was no single, dramatic event that set the current financial crisis off. A whole series of very questionable decisions by many people, in many places, over a period of years, built up the pressures that led to a sudden collapse of the housing market and of financial institutions that began to fall like dominoes as a result of investing in securities based on housing prices.
This book is designed to unravel the tangled threads of that story. It also attempts to determine whether what is being done to deal with the problem is more likely to make things better or worse.
"Among economists of the past thirty years, [Sowell] stands very proud indeed." (
Wall Street Journal)
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