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Chain of Blame: How Wall Street Caused the Mortgage and Credit Crisis


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Chain of Blame: How Wall Street Caused the Mortgage and Credit Crisis

In the summer of 2007, the subprime empire that Wall Street had built all came crashing down. On average, fifty lenders a month were going bust-and the people responsible for the crisis included not just unregulated loan brokers andcon artists, but also investment bankers and home loan institutions traditionally perceived as completely trustworthy. Chain of Blame chronicles this incredible disaster, with a specific focus on the players who participated in such a fundamentally flawed fiasco. Authors Paul Muolo and Mathew Padilla, well-regarded journalists for National Mortgage News and the Orange County Register respectively, reveal the truth behind how this crisis occurred, what individuals and institutions - from lenders and brokers to some of the biggest investment banks in the world - were doing during this critical time, and who is ultimately responsible for what happened.