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All the Devils Are Here: The Hidden History of the Financial Crisisby Bethany Mclean
Synopses & Reviews
The amount of money generated by college sports is staggering. The National Collegiate Athletic Association takes in $800 million just from its annual menand#8217;s basketball tournament.
Yet while the schools, coaches, TV networks, and sponsors all profit, the athletes themselves do not. These young stars, many from disadvantaged backgrounds, receive no compensation or endorsement deals and can be banned for the slightest infraction of NCAA rules. They put up with indentured servitude to chase their dreams of pro glory. A tiny handful each year reach the NBA or NFL, but what happens to the rest is an epic scandal: little or no real education, often no diploma, and a discouraging future.
Bestselling author Joe Nocera, a New York Times op-ed columnist and investigative reporter, has emerged as one of the NCAAand#8217;s fiercest critics. Now he delivers the definitive exposand#233; of college sports, behind the glitz of March Madness and the Bowl Championship Series. He reveals the moral, financial, and legal ramifications of an industry that claims to protect amateur athletes while exploiting their talents and hard work. He shines a powerful light on the businessmen behind the NCAA and how their hypocrisy hurts athletes at all levels.
The New York Times bestseller hailed as andquot;the best business book of 2010andquot; (Huffington Post).
As soon as the financial crisis erupted, the finger-pointing began. Should the blame fall on Wall Street, Main Street, or Pennsylvania Avenue? On greedy traders, misguided regulators, sleazy subprime companies, cowardly legislators, or clueless home buyers?
According to Bethany McLean and Joe Nocera, two of America's most acclaimed business journalists, the real answer is all of the above-and more. Many devils helped bring hell to the economy. And the full story, in all of its complexity and detail, is like the legend of the blind men and the elephant. Almost everyone has missed the big picture. Almost no one has put all the pieces together.
All the Devils Are Here goes back several decades to weave the hidden history of the financial crisis in a way no previous book has done. It explores the motivations of everyone from famous CEOs, cabinet secretaries, and politicians to anonymous lenders, borrowers, analysts, and Wall Street traders. It delves into the powerful American mythology of homeownership. And it proves that the crisis ultimately wasn't about finance at all; it was about human nature.
About the Author
Bethany McLean is a writer for Vanity Fair and the coauthor of The Smartest Guys in the Room. She lives in Chicago.
Joe Nocera is a business columnist for The New York Times and a staff writer for The New York Times Magazine. He has won three Gerald Loeb awards and was a finalist for a Pulitzer Prize in 2006. He lives in New York.
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