The American economy has largely recovered in the decade since the recession, but homeownership remains at a 50 year low. In his new book "Homewreckers," journalist Aaron Glantz details how financial executives profited from the devastating foreclosures of the 2008 housing crash, buying up hundreds of thousands of homes and becoming massive landlords, often with help from government subsidies. Glantz explains how those same executives -- including Secretary of Commerce Wilbur Ross and Secretary of the Treasury Steve Mnuchin -- are now shaping the rules of the industry to protect the wealth they accumulated during the recession. Glantz joins Forum to talk about "Homewreckers" and how the erosion of homeownership in the last decade has created widespread financial insecurity.
Bankers Profited off Homeowners After the Recession, Now They're Shaping Policy
This article is more than 3 years old.
Aaron Glantz, senior reporter, Reveal from the Center for Investigative Reporting; author, "Homewreckers: How a Gang of wall Street Kingpins, Hedge Fund Magnates, Crooked Banks, and Venture Capitalists Suckered Millions Out of Their Homes and Demolished the American Dream"