Understanding the Crash

May 17, 2010
Most of us could certainly use a primer on the causes of today's disastrous economic climate and the dizzying world of credit default swaps, collateralized mortgage obligations, and derivatives. Those without degrees in finance (or at least a subscription to the Wall Street Journal) are often left scratching their heads amid this morass of jargon. Despite the promise of its title, Tobocman and Laursen's quasi-incendiary tract will do little to untangle that confusion. With its remedial tone and message of grassroots empowerment, their book could be useful for instructing some community and labor organizers, but beyond that it's hard to imagine just who this book's target readership might be. Tobocman's crude, woodblock-like inks do little to enliven his painfully unimaginative imagery; such grim subject matter is no excuse for the book's utter lack of wit or style, and the depiction of bankers and brokers as piranhas, sharks, and the like is a shopworn metaphorical device. The authors' progressive politics and fiercely anticorporate rhetoric is ill-served by such an obvious piece of work.