Francesca Mari has written for The New York Times Magazine, The Atlantic, The Cut, and Texas Monthly. (June 2020)

IN THE REVIEW

The Housing Vultures

A deteriorating bank-owned house, Moreno Valley, California, August 2008

Homewreckers: How a Gang of Wall Street Kingpins, Hedge Fund Magnates, Crooked Banks, and Vulture Capitalists Suckered Millions Out of Their Homes and Demolished the American Dream

by Aaron Glantz
Homewreckers, Aaron Glantz’s recent book about the investors who exploited the 2008 financial crisis, is essential reading as we plunge headlong into a new financial catastrophe. Glantz observes that there are two ways a government can respond to a crisis caused by reckless speculation: by stepping in or by stepping aside. During the Great Depression Roosevelt stepped in; Ronald Reagan, dealing with the savings-and-loan crisis, stepped aside. The George W. Bush and Barack Obama administrations, alas, hewed closer to Reagan’s example.