All the Devils Are Here
Encyclopedia
All the Devils Are Here: The Hidden History of the Financial Crisis is a nonfiction book
by author
s Bethany McLean
and Joseph Nocera
the 2008 financial crisis. It details account of how the financial crisis bubbled up from a volatile, and bipartisan, mixture of government meddling and laissez-faire
. It concludes it was not an accident, that banks understood the big picture before the crisis happened but continued with bad practices.
, a William Shakespeare
play in which he wrote "Hell is empty, and all the devils are here."
Book
A book is a set or collection of written, printed, illustrated, or blank sheets, made of hot lava, paper, parchment, or other materials, usually fastened together to hinge at one side. A single sheet within a book is called a leaf or leaflet, and each side of a leaf is called a page...
by author
Author
An author is broadly defined as "the person who originates or gives existence to anything" and that authorship determines responsibility for what is created. Narrowly defined, an author is the originator of any written work.-Legal significance:...
s Bethany McLean
Bethany McLean
Bethany McLean is a contributing editor to Vanity Fair magazine, and known for her work on the Enron scandal and the 2008 financial crisis...
and Joseph Nocera
Joseph Nocera
Joseph "Joe" Nocera is an American business journalist and author. He became a business columnist for The New York Times in April 2005. In March 2011, Nocera became a regular opinion columnist for The Times' Op-Ed page, writing on Tuesdays and Saturdays...
the 2008 financial crisis. It details account of how the financial crisis bubbled up from a volatile, and bipartisan, mixture of government meddling and laissez-faire
Laissez-faire
In economics, laissez-faire describes an environment in which transactions between private parties are free from state intervention, including restrictive regulations, taxes, tariffs and enforced monopolies....
. It concludes it was not an accident, that banks understood the big picture before the crisis happened but continued with bad practices.
The Title
The title of the book comes from The TempestThe Tempest
The Tempest is a play by William Shakespeare, believed to have been written in 1610–11, and thought by many critics to be the last play that Shakespeare wrote alone. It is set on a remote island, where Prospero, the exiled Duke of Milan, plots to restore his daughter Miranda to her rightful place,...
, a William Shakespeare
William Shakespeare
William Shakespeare was an English poet and playwright, widely regarded as the greatest writer in the English language and the world's pre-eminent dramatist. He is often called England's national poet and the "Bard of Avon"...
play in which he wrote "Hell is empty, and all the devils are here."
Notable people in the book
- Angelo MoziloAngelo MoziloAngelo R. Mozilo was the chairman of the board and chief executive officer of Countrywide Financial until July 1, 2008. Condé Nast Portfolio ranked Mozilo second on their list of "Worst American CEOs of All Time".-Life and career:...
- Roland ArnallRoland ArnallRoland E. Arnall was a French-born American businessman and diplomat. As the owner of ACC Capital Holdings, he became a billionaire with Ameriquest Mortgage...
- Maurice R. GreenbergMaurice R. GreenbergMaurice Raymond "Hank" Greenberg is an American business executive and former chairman and CEO of American International Group , which was the world's 18th largest public company and its largest insurance and financial services corporation.He is currently chairman and CEO of C.V. Starr & Co., Inc....
- Stan O'Neal
- Lloyd BlankfeinLloyd BlankfeinLloyd Craig Blankfein is an American business executive. He is currently the CEO and Chairman of Goldman Sachs. He has been in this position since the May 31, 2006 nomination of former CEO Henry Paulson as Secretary of the Treasury under George W...
- Franklin RainesFranklin RainesFranklin Delano "Frank" Raines is an American business executive. He is the former chairman and chief executive officer of the Federal National Mortgage Association, commonly known as Fannie Mae, who served as White House budget director under President Bill Clinton...
- Brian Clarkson
- Alan GreenspanAlan GreenspanAlan Greenspan is an American economist who served as Chairman of the Federal Reserve of the United States from 1987 to 2006. He currently works as a private advisor and provides consulting for firms through his company, Greenspan Associates LLC...
Reviews
- Seeking Alpha http://seekingalpha.com/article/238276-book-review-all-the-devils-are-here
- Seattle PI http://www.seattlepi.com/books/430310_148539-blogcritics.org.html
- Business Pundit http://www.businesspundit.com/book-review-all-the-devils-are-here-the-hidden-history-of-the-financial-crisis/
- Business Week http://www.businessweek.com/magazine/content/10_49/b4206102236772.htm
- New York Times http://www.nytimes.com/2010/11/21/books/review/Barrett-t.html
- INC.com http://www.inc.com/articles/2010/12/book-review-all-the-devils-are-here.html
Awards
- Huffington Post: Best Business Book of the Year