Reckless Endangerment

How Outsized Ambition, Greed, and Corruption Created the Worst Financial Crisis of Our Time

Gretchen Morgenson and Joshua Rosner

St. Martin's Griffin

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A Washington Post Notable Nonfiction Book for 2011
One of The Economist’s 2011 Books of the Year
 
In Reckless Endangerment, Gretchen Morgenson exposes how the watchdogs who were supposed to protect the country from financial harm were actually complicit in the actions that finally blew up the American economy. Drawing on previously untapped sources and building on original research from coauthor Joshua Rosner—who himself raised early warnings with the public and investors, and kept detailed records—Morgenson connects the dots that led to this fiasco.

Morgenson and Rosner draw back the curtain on Fannie Mae, the mortgage-finance giant that grew, with the support of the Clinton administration, through the 1990s, becoming a major opponent of government oversight even as it was benefiting from public subsidies. They expose the role played not only by Fannie Mae executives but also by enablers at Countrywide Financial, Goldman Sachs, the Federal Reserve, HUD, Congress, and the biggest players on Wall Street, to show how greed, aggression, and fear led countless officials to ignore warning signs of an imminent disaster.

Character-rich and definitive in its analysis, and with a new afterword that brings the story up to date, this is the one account of the financial crisis you must read.

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RECKLESS ENDANGERMENT by Gretchen Morgenson, Joshua RosnerKirkus Book Reviews
Read the Kirkus Review of RECKLESS ENDANGERMENT How Outsized Ambition, Greed, and Corruption Led to Economic Armageddon. <em>New York Times<em> business correspondent Morgenson<em> <em>(<em>The Capitalists' Bible<em>, 2009, etc.) and investment consultant Rosner combine their expertise in a fresh look at the causes of the 2008 mortgage meltdown.
- Kirkus Reviews


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About the Author

Gretchen Morgenson and Joshua Rosner

GRETCHEN MORGENSON  is a business reporter and writes the Fair Game column at The New York Times, where she also serves as assistant business and financial editor. She was awarded the Pulitzer Prize in 2002 for her “trenchant and incisive“ coverage of Wall Street. Prior to joining the Times in 1998, she worked as a broker at Dean Witter in the 1980s, and as a reporter at Forbes, Worth, and Money magazines. She lives with her husband and son in New York City. JOSHUA ROSNER is a partner at independent research consultancy Graham Fisher and Co. and advises global policy-makers and institutional investors on housing and mortgage-finance issues. He was among the first analysts to identify operational and accounting problems at the GSEs (government-sponsored enterprises) and one of the earliest to identify the peak in the housing market, the likelihood of contagion in the credit rating agencies’ CDO assumptions. He lives with his son in New York City.

Gretchen Morgenson
Joshua Rosner

Fred R. Conrad, The New York Times
Gretchen Morgenson

Dennis Drenner
Joshua Rosner

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Available Formats and Book Details

Reckless Endangerment
How Outsized Ambition, Greed, and Corruption Created the Worst Financial Crisis of Our Time
Gretchen Morgenson and Joshua Rosner

Trade Paperback

Trade Paperback
St. Martin's Press
St. Martin's Griffin
June 2012
Trade Paperback
ISBN: 9781250008794
ISBN10: 1250008794
5 1/2 x 8 1/4 inches, 368 pages, Includes one 8-page b&w photo section
$15.99

Hardcover

Hardcover
Henry Holt and Co.
Times Books
May 2011
Hardcover
ISBN: 9780805091205
ISBN10: 0805091203
6 1/8 x 9 1/4 inches, 352 pages, One 8-page black-and-white insert
$30.00

e-Book Agency

e-Book Agency
Henry Holt and Co.
Times Books
May 2011
e-Book Agency
ISBN: 9781429965774
ISBN10: 1429965770
352 pages
$9.99
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