One risk of writing a tell-all book is that someone might accuse you of not telling everything. In “Busted”, Edmund Andrews uses his own personal finance fiasco to explain America’s home-foreclosure crisis. Mr. Andrews, an economics reporter for the New York Times, doles out what even he calls “cringe-inducing” details about breaking up his marriage, paying too much for a house and falling hopelessly behind on his mortgage payments…The value of this vividly written history is in the way it helps to explain how our country reached the point where about one out of 10 home mortgages is either overdue or in foreclosure. Some people blame lax regulation. Others point to loose monetary policy at the Federal Reserve and greed on Wall Street.
By James R. Hagerty, May 26, 2009, WSJ
By Edmund L. Andrews
(Norton, 220 pages, $25.95)