I just finished my latest library book, The End of Wall Street, by Roger Lowenstein. I would describe this book as a good medium-level description of the economic factors that led to the financial crisis of 2008. The author does a good job of not getting bogged down in the boring mathematical details (it’s short—only 358 pages, after all), while steering away from becoming such a high-level description that it’s inaccurate or un-informative. The focus is on the motivations of the major actors, and the policies that brought about the crisis of 2008.
While the author criticizes the laissez-faire policies and regulatory practices that brought about 2008, it’s pretty balanced, based in evidence and well-cited facts, and he never becomes preachy. He’s critical, but then, given what happened, it would be difficult (and probably inaccurate) to be otherwise while writing about this material.
If you’re like me, you’ll need to keep a sticky note handy where you can write the meanings of acronyms you come across. (Wait, what’s a CDO again?) The book is fairly quick-paced, and even though I don’t have any formal training economics, I was glad to have read it.