04 February, 2012

A Review of All the Devils Are Here

This article was originally published on
The Distributist Review
on 4 February, 2012

All the Devils Are Here, by Bethany McLean and Joe Nocera, is a fascinating look at the principle players who brought about the financial crisis of 2008. It reveals the motives and mistakes made over the course of a decade by those who were entrusted with running the largest financial corporations of the world as well as those who were entrusted with regulating them. It explodes the myth that the market is self-regulating in a way that will result in what is best for all. It also explodes the myth that centralized regulation of huge corporate interests will protect the average citizen from corporate greed. I can’t imagine too many Austrian or Keyensian capitalists would truly like what is revealed in this work, for both sides can only defend their positions by ignoring half of what these authors have uncovered and presented for us.