You can’t fully understand the economic meltdown and foreclosure crisis

without reading this book…

“The Monster,” by Michael Hudson

I’m not kidding about that.  I don’t think it’s possible to fully understand what’s going on today economically… politically… socially… legally… it’s just not possible.  I don’t care what else you’ve read either.  There’s simply not another book related to the meltdown that replaces this one.

Why?  Well, for one thing… it’s the historical perspective Mike Hudson provides.  Wall Street’s sub-prime lending binge of 2003-2006 had it’s roots in the Savings & Loans of the 1970s.  If you don’t understand the linkage there, you need to read this book… and listen to this podcast.

If you’ve wondered how the banking and financial services industry amassed so much political power over the last 30 years… how all the different pieces of litigation came together to create today’s situation, you need to read this book… and listen to this podcast.

Is sub-prime lending a good thing or a bad thing?  How did securitization change the world forever in ways we couldn’t see?  Who were the “sub-prime” lenders, like Ameriquest and First Alliance?  What was it really like to work inside the sub-prime industry?  And how did the sub-prime industry seduce Wall Street, and impact everyone, no matter the credit score?  The history is fascinating and once you understand all of the pieces, you find that not only does everything today makes more sense, but you’ll also see clearly what we’re up against… and what we have to do to push back against the banking lobby.

Did Wall Street’s executives know what they were doing?  Did they see all of this coming?  Whose really was responsible for this economic catastrophe?  Was it the borrowers… was it the loan officers and brokers… or was it the bankers of Wall Street?

Someone online said that only in the last 100 pages does Hudson talk about the years 2003-2007… and that’s true.  But Hudson responds by saying: “If I were writing about WWII, I’d have to start by writing about WWI.  Well, same thing here.”  And I couldn’t agree more.

Even if you were part of the real estate or mortgage industries over the last decade, and you think you already know everything there is to know about what went on and why… you don’t… and you’ll be glued too.

Now, before you go off reading “The Monster,” here’s something you can’t do anywhere else… listen to Michael Hudson not only talk with me about his book, but listen to how he applies his vast knowledge of the subject matter to what’s going on today in our society, our government… and even in our banking industry.

Michael and I became friends over the past year or so… we’ve never met face to face, but we’ve spent hours talking on the phone about various issues of the day… he’s a great writer and a really smart guy, simple as that.  But, because we’ve gotten to know each other, I think you’ll agree that the interview is one that couldn’t be duplicated anywhere.

By the way, Michael’s a staff writer at the Center for Public Integrity, a former reporter for the Wall Street Journal, and he was also an investigator for the Center for Responsible Lending.  He’s also written for the New York Times, the Los Angeles Times and Mother Jones.  If there’s one thing he knows about it’s fraud on Wall Street.

I’m telling you… this is a Mandelman Matters Podcast you’re really going to enjoy… in a weird sort of way… I mean, it is disturbing… especially if you’re a homeowner… in fact, I’d say it’s safe to assume that you’ll be outraged more than once.  But, you can’t hide from the facts, and you need to know about how we all ended up in this seemingly unsolvable nightmare.

So, click the big PLAY NOW button below, turn up your speakers,

and get ready for the author of

“The Monster,” Michael Hudson,

because this is a Mandelman Matters Podcast…

To order your copy of the book, “The Monster,” simply CLICK HERE!

Mandelman out.

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