Homewreckers, Aaron Glantz’s recent book about the investors who exploited the 2008 financial crisis, is essential reading as we plunge headlong into a new financial catastrophe. Glantz observes that there are two ways a government can respond to a crisis caused by reckless speculation: by stepping in or by stepping aside. During the Great Depression Roosevelt stepped in; Ronald Reagan, dealing with the savings-and-loan crisis, stepped aside. The George W. Bush and Barack Obama administrations, alas, hewed closer to Reagan’s example.
Source : The Housing Vultures
