Gretchen Morgenson and Joshua Rosner, Times Books (331 pages, $30)
“Reckless Endangerment” is a late though welcome book on the financial debacle that ejected millions of Americans from their homes and jobs. Gretchen Morgenson, a New York Times columnist, and Joshua Rosner, a housing analyst, seek to connect the dots between James A. Johnson’s tenure as chief executive of Fannie Mae and the $2 trillion meltdown that followed.
Though many observers have asserted that Fannie Mae and government meddling caused the disaster, this fast-paced, original narrative comes closest to making the case. Drawing on more than a decade of reporting, Morgenson and Rosner argue that Johnson, who led Fannie Mae from 1991 through 1998, laid out a blueprint for other institutions, from Countrywide Financial to Goldman Sachs.
Written in a smooth blend of hard reporting and lucid analysis, “Reckless Endangerment” crackles with indignation and telling anecdotes. James Pressley, Bloomberg News
