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HOW THREE ORDINARY AMERICANS UNCOVERED WALL STREET'S GREAT FORECLOSURE FRAUD

An inspiring, well-rendered, deeply reported, and often infuriating account.

Salon contributing writer Dayen illuminates how, during the past 10 years, home buyers ended up illegally evicted from their residences as the result of dishonesty, greed, and heartlessness involving mortgage lenders, mortgage servicers, investment bankers, and unscrupulous lawyers.

Because the painstakingly documented scheme consists of highly technical maneuvering related to mortgage documents and land records, the author tells the saga mainly through the individual cases of three home buyers—originally strangers to each other—who educated themselves to fight back: Lisa Epstein, a cancer nurse; Michael Redman, an auto dealership employee; and Lynn Szymoniak, a lawyer who investigates insurance fraud. Dayen chronicles their financially and physically draining campaigns to save their homes from illegal foreclosures and battle on behalf of millions of additional individuals. The author begins with Epstein's case, followed by Redman’s; one-third of the way into the narrative, the two of them meet Szymoniak, and Dayen describes how they pooled their meager resources to raise public consciousness at huge personal sacrifice. The author populates the book with hundreds of other individuals, many of them villains, cowards, or clueless men and women, many of whom had the authority to halt the fraudulent behaviors. In addition, the author occasionally addresses readers directly about the mechanics of the foreclosures, which have affected all 50 states but have been concentrated in Florida, California, Nevada, and Arizona. Wisely, though, Dayen rarely shifts the focus from the instructive, compelling sagas of his principals. Although the efforts of the whistle-blowers have educated countless citizens facing foreclosure—including the massive reach of a 60 Minutes episode—hundreds of thousands of houses remain empty as the former residents scrape by in what they hope are temporary quarters. Dayen relates how prosecutors, judges, and the Department of Justice have caved to powerful mortgage industry donors while illegal foreclosures continue.

An inspiring, well-rendered, deeply reported, and often infuriating account.

Pub Date: May 17, 2016

ISBN: 978-1-62097-158-1

Page Count: 400

Publisher: The New Press

Review Posted Online: Feb. 9, 2016

Kirkus Reviews Issue: March 1, 2016

THINKING, FAST AND SLOW

Striking research showing the immense complexity of ordinary thought and revealing the identities of the gatekeepers in our...

A psychologist and Nobel Prize winner summarizes and synthesizes the recent decades of research on intuition and systematic thinking.

The author of several scholarly texts, Kahneman (Emeritus Psychology and Public Affairs/Princeton Univ.) now offers general readers not just the findings of psychological research but also a better understanding of how research questions arise and how scholars systematically frame and answer them. He begins with the distinction between System 1 and System 2 mental operations, the former referring to quick, automatic thought, the latter to more effortful, overt thinking. We rely heavily, writes, on System 1, resorting to the higher-energy System 2 only when we need or want to. Kahneman continually refers to System 2 as “lazy”: We don’t want to think rigorously about something. The author then explores the nuances of our two-system minds, showing how they perform in various situations. Psychological experiments have repeatedly revealed that our intuitions are generally wrong, that our assessments are based on biases and that our System 1 hates doubt and despises ambiguity. Kahneman largely avoids jargon; when he does use some (“heuristics,” for example), he argues that such terms really ought to join our everyday vocabulary. He reviews many fundamental concepts in psychology and statistics (regression to the mean, the narrative fallacy, the optimistic bias), showing how they relate to his overall concerns about how we think and why we make the decisions that we do. Some of the later chapters (dealing with risk-taking and statistics and probabilities) are denser than others (some readers may resent such demands on System 2!), but the passages that deal with the economic and political implications of the research are gripping.

Striking research showing the immense complexity of ordinary thought and revealing the identities of the gatekeepers in our minds.

Pub Date: Nov. 1, 2011

ISBN: 978-0-374-27563-1

Page Count: 512

Publisher: Farrar, Straus and Giroux

Review Posted Online: Sept. 3, 2011

Kirkus Reviews Issue: Sept. 15, 2011

THE CULTURE MAP

BREAKING THROUGH THE INVISIBLE BOUNDARIES OF GLOBAL BUSINESS

These are not hard and fast rules, but Meyer delivers important reading for those engaged in international business.

A helpful guide to working effectively with people from other cultures.

“The sad truth is that the vast majority of managers who conduct business internationally have little understanding about how culture is impacting their work,” writes Meyer, a professor at INSEAD, an international business school. Yet they face a wider array of work styles than ever before in dealing with clients, suppliers and colleagues from around the world. When is it best to speak or stay quiet? What is the role of the leader in the room? When working with foreign business people, failing to take cultural differences into account can lead to frustration, misunderstanding or worse. Based on research and her experiences teaching cross-cultural behaviors to executive students, the author examines a handful of key areas. Among others, they include communicating (Anglo-Saxons are explicit; Asians communicate implicitly, requiring listeners to read between the lines), developing a sense of trust (Brazilians do it over long lunches), and decision-making (Germans rely on consensus, Americans on one decider). In each area, the author provides a “culture map scale” that positions behaviors in more than 20 countries along a continuum, allowing readers to anticipate the preferences of individuals from a particular country: Do they like direct or indirect negative feedback? Are they rigid or flexible regarding deadlines? Do they favor verbal or written commitments? And so on. Meyer discusses managers who have faced perplexing situations, such as knowledgeable team members who fail to speak up in meetings or Indians who offer a puzzling half-shake, half-nod of the head. Cultural differences—not personality quirks—are the motivating factors behind many behavioral styles. Depending on our cultures, we understand the world in a particular way, find certain arguments persuasive or lacking merit, and consider some ways of making decisions or measuring time natural and others quite strange.

These are not hard and fast rules, but Meyer delivers important reading for those engaged in international business.

Pub Date: May 27, 2014

ISBN: 978-1-61039-250-1

Page Count: 288

Publisher: PublicAffairs

Review Posted Online: April 15, 2014

Kirkus Reviews Issue: May 1, 2014

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