In their book Reckless Endangerment, Gretchen Morgenson and Josh Rosner try to do something there’s been far too little of in the analysis of the financial crisis thus far: single out the people who really played key roles in creating the economic mess we find ourselves in today.
The authors appeared on the Daily Ticker to discuss the book and the people and actions that laid the foundation for the eventual crisis, criticizing the treatment of the collapse as “an act of God that couldn’t have been prevented.” Morgensen isn’t optimistic about honest, wholehearted efforts to correct the situation even today:
Recalling that Congress “did not deal with [Fannie and Freddie] at all in Dodd-Frank,” Morgenson says “job one this year” should be figuring out how to deal with Fannie and Freddie.
But Morgenson has little confidence there will be an intelligent resolution of the situation anytime soon: “It’s unfortunate [but] I think we are still very, very far from having an honest discussion about these issues,” she says.
Watch the whole interview on video here: Reckless Endangerment