Chain of Blame

Praise for Chain of Blame
 
The truth behind America's housing and mortgage crisis
 
"Two of the smartest, most entertaining investigative reporters alive, describe one of the most important financial stories of our time. If you had any skin at all in the housing boom, you've got to read the story of exactly how that boom went bust. As Paul Muolo did with the S&L crisis of the '80s, he and Mathew Padilla have now become the chief chroniclers of the subprime crisis."
-David Asman, Host of America's Nightly Scoreboard on Fox Business Network and Forbes on Fox on Fox News Channel, and former op-ed editor of the Wall Street Journal
 
"Paul Muolo and Mathew Padilla display their deep knowledge of the mortgage industry and all its players. Chain of Blame is a comprehensive examination of a crisis that affects us all."
-Scott Cohn, Senior Correspondent, CNBC
 
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 crisisincluded not justunregulated 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.