Banks Did It

In "Banks Did It," author Neil Fligstein delves into the intricate business models of major U.S. banks to unravel the complexities behind the 2008 financial crisis. Published by Harvard University Press in 2021, this compelling hardback spans 336 pages, providing a thorough examination of how banks became ensnared in the mortgage market. Fligstein expertly illustrates the progression of these firms as they originated, securitized, and sold mortgage-backed securities, ultimately leading to their overwhelming dependence on these financial instruments. This addiction not only jeopardized their stability but also threatened the entire economy. A must-read for anyone interested in economics, "Banks Did It" offers valuable insights into the systemic issues that contributed to one of the most significant financial downturns in history.