Ferguson deserved considerable credit in Colossus for suggesting that a reckoning was upon us. In this book, written before the real calamity hit, he points to the assumptions that have been made leading to the crash. It's plain that no there's no quick fix, that problems are deep, but not without precedent. His breadth of erudition comes through as always but his voice as a writer has continued to strengthen. He's smart, doesn't talk nonsense, and clearly articulates the false premises in our recent past and suggests what should change going forward. A far better book than say, Bad Money - less Bush bashing, better focus on the longstanding issues. Or Disaster Capitalism - which is so polemical. Why not get the story from a professional academic?
