Chain of Blame Book Review

If you looking for a book to read this Thanksgiving weekend to help you make sense of this whole mess we are in, I recommend Chain of Blame by Paul Muollo and Matthew Padilla. Muollo, an editor at the trade publication National Mortgage News, and Padilla, a reporter for the Orange County Register, were in the thick of things during the housing bubble and subsequent mortgage meltdown. They do a very good job of sketching the history of the subprime market including its roots in lenders such as Beneficial and Household that actually held on to the loans they underwrote and had repo men knocking on doors to remind folks to pay.

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