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Tuesday, April 27, 2010

Meet The Real Villain Of The Financial Crisis

I'm only now beginning to get up to speed (somewhat) with the back story on the financial reform debate. But I know one writer I will rely upon to guide me through: Bethany McLean, co-author of "The Smartest Guys In The Room," an incredible book about the rise and fall of Enron that I highly recommend.

She's the author of the "Meet The Real Villain Of the Financial Crisis" opinion piece in The New York Times today. She's one of America's financial reporters who has been up to speed on all sorts of financial happenings before the public -- and many of her colleagues -- realized what was going on. In this piece, she says the government failed us because it didn't do its job as regulators while also pointing out how Goldman Sachs and other such firms gamed the system in a way that enriched themselves and hurt the rest of us.

I don't fully trust what the Democrats are Republicans are saying about this issue because of the politics at play. But I do trust folks like McLean.

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