As I listened to Chain of Blame co-author, Paul Muolo, talk about Wall Street's complicity in creating the mortgage crisis that is currently still looming over our heads, I couldn't help but think of Gordon Gekko's infamous words: "greed, for lack of a better word, is good."
The subprime mortgage crisis has led to more than a million home foreclosures and has sent ripples through the world economy. But who is to blame for this situation? According to financial writer Paul Muolo, fingers should be pointing at Wall Street.
Muolo is executive editor of National Mortgage News. He and reporter Mathew Padilla wrote Chain of Blame: How Wall Street Caused the Mortgage and Credit Crisis. The book focuses on Angelo Mozilo, founder and CEO of Countrywide Financial, using his story to trace the complicated events that led to the crisis.
- Source
Go to the source above to listen to the NPR Fresh Air segment.
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