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McLean, Shaky Ground: Fannie Mae & Freddie Mac

By Brenda Jubin

Columbia University Press has launched a new publishing imprint, Columbia Global Reports, to produce “six short, ambitious works of journalism and analysis a year, each on a different under-reported story in the world.” Bethany McLean, co-author of The Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of Enron and All the Devils Are Here: The Hidden History of the Financial Crisis, has written the first title, Shaky Ground: The Strange Saga of the U.S. Mortgage Giants. It’s an auspicious beginning for the series.

Mervyn King, the former governor of the Bank of England, told the author: “Most countries have socialized health care and a free market for mortgages. You in the United States do exactly the opposite.” (p. 9) And, he didn’t add but I will, we do both badly.

Read the full article: McLean, Shaky Ground: Fannie Mae & Freddie Mac