If anyone is looking to buy me a gift, this book has just jumped to the top of my list.
It’s been years since the collapse of our financial systems, and while journalists have created pictures of greed’s ability to create and maintain greatly imbalanced moral structures, this book seems to take the cake. Of course, I can only work off of the reviews and a nice shout-out from Cory Doctorow via BoingBoing.
Michael W Hudson’s book-length investigative journalism piece on the subprime meltdown,The Monster, is both a brilliant example of skeptical business journalism done right, and a brilliant example of the storyteller’s art. Hudson combines his meticulous, exhaustively documented research with a novelistic approach to telling the story that strips away all the financial jargon and the cozy justifications and rationalizations and lays bare the heart of the story: greed, depraved indifference, fraud, and a howling moral vaccuum that swallowed up people at all levels of finance and financial regulation.