And no one saw it coming. Gimme a break. If we were so blind, we deserve what we got. It’s called losing. Like we play fair in every case. Who sold those crap loan bundles to the world? Who rated them AAA? It was a matter of time before a rationalizing exculpatory book like this came out. Another gothic Goebbelsian “stab in the back” evasion of responsibility, when the culprit is our own stupidity.
I’m sure the “no one saw it coming” us a bit of an exaggeration to help build interest. An no, this alone wasn’t the only element that made our economy what it is today. But the attacks on 9/11 did make a direct hit on our financial center and the ensuing WOT with two theaters along with the clean up and rebuilding have cost us dearly.
I think it’s an interesting take on the subject. I’ll post more info here as I get it.