The mortgage crisis didn't have to happen. It could have been avoided with surprising ease had the "shadow bankers" and the desire for quick riches not overwhelmed the good sense of lenders who should have known better. Ordinary people saw the opportunity to get rich in real estate and obligated themselves to loans that were sometimes impossible to repay.
These are stories we all became used to seeing in the papers. But there is much more to know about the most devastating global financial crisis since the Great Depression.
This book reveals why every man, woman and child in America is now about $40,000 in debt to pay for it (source: Data360.org). It is about how credit scoring and misplaced reliance on technology opened the door to greed. And how those in positions of oversight failed to protect us.
It is also about how we got here, and what we can do to avoid a similar catastrophe in the years ahead. The future we want is not the future we are on track to creating.
Read more or purchase a copy of my book at http:\\www.kennetheclark.com
