9/14/2015, Bethany McLean

The Biggest Remaining Risk in Today's Financial System, Hiding in Plain Sight

The Biggest Remaining Risk in Today's Financial System, Hiding in Plain Sight

“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

9/14/2015, Bethany McLean

I've Written Books about Enron and the Financial Crisis, but Fannie Mae Is the Scariest of Them All

I've Written Books about Enron and the Financial Crisis, but Fannie Mae Is the Scariest of Them All

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