When the housing bubble popped and Wall Street did a swan dive, they created an economic whirlpool that the rest of us are still struggling to escape. Two years later, Congress is trying--and failing--to pass a financial reform to stop the lending practices that led to the bubble and put the banking behemoths that speculated on it on a tight leash.
Our new book, "Understanding the Crash" (Soft Skull Press / June 8 2010), uses a graphic nonfiction format to cut through the confusion and explain how mortgage lenders and investment banks managed to crash the economy. In the book, we show how low- and middle-income homeowners became a goldmine for lenders and speculators--until it all came crashing down--and what's needed to build a financial system that instead rewards community and sustainability. Here's some of what we found.