Bullies of Wall Street: This Is How Greedy Adults Messed Up Our Economy

Gr 8 Up—In 2008 the United States suffered a financial crisis and recession unlike any other since the stock market crash of 1929. At the time of this crisis, Bair was the chairperson of the Federal Deposit Insurance Corporation. According to the author, the prime reason for this crisis boiled down to too much borrowing. While not excusing individuals completely, the author sharply criticizes CEOs of large banks and their allies in government. Bair convincingly presents her case by first relaying six (fictional but based on actual people she encountered) stories of youths whose families were negatively impacted by the recession in one way or another (subprime mortgages, loan modifications, declining property values, loss of jobs.). She goes on to describe in intimate detail her involvement with bank bailouts and banking reforms. Her analysis of the crisis (particularly the "Too Big to Fail" mentality) and the six case studies are very perceptive. Readers are given keen insight into the link between banking and the economy. An excellent selection that puts a human face on the economic crisis.—Jeanette Lambert, Nashville-Davidson County Schools, TN