Summer Reading List

A very important book came out a week ago. It’s called “Reckless Endangerment: How Outsized Ambition, Greed and Corruption Led to Economic Armageddon.” The authors are New York Times writer Gretchen Morgenson and housing analyst Joshua Rosner.
If you’ve wondered how we got to the financial situation we now find ourselves in, this book purports to explain it. The authors lay the blame on Fannie Mae and the Federal Reserve plus the politicians and Wall Street executives. They do not hold back on who’s at fault. Jim Johnson, CEO at Fannie Mae, Congressman Barney Frank, ACORN and “see no bubble mentality” Tim Geithner are major players. Former Treasury Secretary John Snow and the Bush administration aligned with Fannie’s opponents, but were unable to stop the slide. If you recall, President Bush tried five times to reign in and overhaul Fannie, but never got cooperation.
Democrat Pollster Pat Caddell has said so damning is this book for Democrats that if the public realizes what has been happening, that party will have difficulty ever recovering political power.
Don’t confuse this book with another “Reckless Endangerment.” One by Robert Tanenbaum pops up when googling and sadly, our public library has a copy of this mystery, but not the financial book. It’s a trend I have noticed when trying to find other new conservative books at the library.
This book is a must read and will help us all understand what happened and then vote accordingly.

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