Bethany McLean – författare

Brought to you by Penguin.From the author of the modern business classic The Smartest Guys in the Room comes a damning indictment of late-stage capitalism-and the leaders that were brutally unprepared for a global pandemic.In 2020, the coronavirus pandemic made it painfully clear that governments across the world could not adequately protect their citizens. Millions of people suffered and died in just two years, while administrations around the globe blundered; prize-winning economists overlooked devastating trade-offs from the collapse of trade; and elites escaped to isolated retreats, unaffected by - and worse, even profiting from - the worst healthcare crisis to hit humanity in decades.In this page-turning economic, political and financial history, veteran journalists Bethany McClean and Joseph Nocera analyse the American response to the pandemic as a case study, to offer fresh and provocative answers. With laser-sharp reporting and deep sourcing, they investigate what really happened when governments ran out of PPE due to snarled supply chains; and the shock to the financial system when the world''s biggest economies stumbled. They zero in on the effectiveness of wildly polarised approaches across states, and they trace why thousands died in hollowed-out hospital systems and nursing homes run by private equity firms, all in the name of "maximising shareholder value".The Big Fail is an expansive, gripping narrative account on what the pandemic did to one economy, and how it forced us to question the fundamental principles of our society©2023 Bethany McLean & Joe Nocera (P)2023 Penguin Audio

Brought to you by Penguin. What went wrong with American business at the end of the 20th century?Until the spring of 2001, Enron epitomized the triumph of the New Economy. Feared by rivals, worshipped by investors, Enron seemingly could do no wrong. Its profits rose every year; its stock price surged ever upward; its leaders were hailed as visionaries. Then a young Fortune writer, Bethany McLean, wrote an article posing a simple question - how, exactly, does Enron make its money?Within a year Enron was facing humiliation and bankruptcy, the largest in US history, which caused Americans to lose faith in a system that rewarded top insiders with millions of dollars, while small investors lost everything. It was revealed that Enron was a company whose business was an illusion, an illusion that Wall Street was willing to accept even though they knew what the real truth was. This book - fully updated for the paperback - tells the extraordinary story of Enron''s fall.© Bethany McLean, Peter Elkind 2003 (P) Penguin Audio 2021

From the collaborators behind the modern business classic All the Devils are Here comes a damning indictment of American capitalism-and the leaders that left us brutally unprepared for a global pandemic

In 2020, the novel coronavirus pandemic made it painfully clear that the U.S. could not adequately protect its citizens. Millions of Americans suffered-and over a million died-in less than two years, while government officials blundered; prize-winning economists overlooked devastating trade-offs; and elites escaped to isolated retreats, unaffected by and even profiting from the pandemic.

Why and how did America, in a catastrophically enormous failure, become the world leader in COVID deaths? In this page-turning economic, political, and financial history, veteran journalists Bethany McLean and Joe Nocera offer fresh and provocative answers. With laser-sharp analysis and deep sourcing, they investigate both what really happened when governments ran out of PPE due to snarled supply chains and the shock to the financial system when the world's biggest economy stumbled. They zero in on the effectiveness of wildly polarized approaches, with governors Andrew Cuomo of New York and Ron DeSantis of Florida taking infamous turns in the spotlight. And they trace why thousands died in hollowed-out hospital systems and nursing homes run by private equity firms to "maximize shareholder value." 

In the tradition of the authors' previous landmark exposés, The Big Fail is an expansive, insightful account on what the pandemic did to the economy and how American capitalism has jumped the rails-and is essential reading to understand where we're going next.

Fannie Mae and Freddie Mac were created by Congress to serve the American Dream of homeownership. By the end of the century, they had become extremely profitable and powerful companies, instrumental in putting millions of Americans in their homes.

So why does the government now want them dead?

In 2008, the U.S. Treasury put Fannie and Freddie into a life-support state known as “conservatorship” to prevent their failure—and worldwide economic chaos. The two companies, which were always controversial, have become a battleground. Today, Fannie and Freddie are profitable again but still in conservatorship. Their profits are being redirected toward reducing the federal deficit, which leaves them with no buffer should they suffer losses again. China and Japan are big owners of Fannie and Freddie securities, and they want to ensure the safety of their investments—which helps explain why the government is at an impasse about what to do. But the current state of limbo is unsustainable.

Based on comprehensive reporting and dozens of interviews, Shaky Ground chronicles the story of Fannie and Freddie seven years after the meltdown, and tells us why homeownership finance is now one of the biggest unsolved issues in today’s global economy—and why it must be placed on firmer ground.