“If the housing market tanks, so does the stock market. No matter who you are, this is hugely impactful. And no one is talking about it. No one realizes it.” —Ryan Israel, partner at Pershing Square Capital Management. On a bitterly cold gray day in December 2014, there was a strangely large crowd at the… more
What are the risks remaining to the global financial system in the wake of the crisis of 2008? I have thought a lot about this topic, but I’ve always believed that trying to forecast the cause of the next meltdown is an exercise in futility. One rule about financial crises that seems to hold true… more
The American Dream is built upon American homes. "Most countries have socialized health care and a free market for mortgages. You in the United States do exactly the opposite," Mervyn King, the former governor of the Bank of England, once told business journalist Bethany McLean. If you own a home, chances are you took out… more
The advance reviews are in for Columbia Global Reports' inaugural book, Bethany McLean's Shaky Ground: The Strange Saga of the U.S. Mortgage Giants. We are overjoyed to read Kirkus Reviews' enthusiastic appraisal of the work: The housing sector is a house of cards. So economics writer Bethany McLean—who, having covered Enron and the financial meltdown of 2008,… more
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