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Author: United States. Financial Crisis Inquiry Commission
Publisher: Public Affairs
Published: 2011-01-27
Total Pages: 578
ISBN-13: 1610390415
DOWNLOAD EBOOKExamines the causes of the financial crisis that began in 2008 and reveals the weaknesses found in financial regulation, excessive borrowing, and breaches in accountability.
Author: Peter J. Wallison
Publisher: AEI Press
Published: 2011-05-16
Total Pages: 115
ISBN-13: 0844772313
DOWNLOAD EBOOKPeter J. Wallison is the only member of the Financial Crisis Inquiry Commission (FCIC) to release a formal dissent to the FCICOs official report on the causes of the financial crisis. Wallison, codirector of financial policy studies at the American Enterprise Institute, argues that the FCICOs report fails to address the cause of the deterioration in mortgage underwriting standards that led to the housing bubble widely accepted as the key factor in destabilizing the American economy. Wallison's Dissent to the Majority Report of the Financial Crisis Inquiry Commission reveals that government-mandated subprime loans, not greedy investors, were the force behind the deterioration in underwriting standards. This dissent is a must-read for anyone seeking to understand the causes of the financial crisis_and to prevent future economic collapse.
Author: Olivier Blanchard
Publisher: MIT Press
Published: 2014-08-29
Total Pages: 251
ISBN-13: 0262526824
DOWNLOAD EBOOKProminent economists reconsider the fundamentals of economic policy for a post-crisis world. In 2011, the International Monetary Fund invited prominent economists and economic policymakers to consider the brave new world of the post-crisis global economy. The result is a book that captures the state of macroeconomic thinking at a transformational moment. The crisis and the weak recovery that has followed raise fundamental questions concerning macroeconomics and economic policy. These top economists discuss future directions for monetary policy, fiscal policy, financial regulation, capital-account management, growth strategies, the international monetary system, and the economic models that should underpin thinking about critical policy choices. Contributors Olivier Blanchard, Ricardo Caballero, Charles Collyns, Arminio Fraga, Már Guðmundsson, Sri Mulyani Indrawati, Otmar Issing, Olivier Jeanne, Rakesh Mohan, Maurice Obstfeld, José Antonio Ocampo, Guillermo Ortiz, Y. V. Reddy, Dani Rodrik, David Romer, Paul Romer, Andrew Sheng, Hyun Song Shin, Parthasarathi Shome, Robert Solow, Michael Spence, Joseph Stiglitz, Adair Turner
Author: Federal Deposit Insurance Corporation
Publisher:
Published: 2018-03-06
Total Pages:
ISBN-13: 9780966180817
DOWNLOAD EBOOKCrisis and Response: An FDIC History, 2008¿2013 reviews the experience of the FDIC during a period in which the agency was confronted with two interconnected and overlapping crises¿first, the financial crisis in 2008 and 2009, and second, a banking crisis that began in 2008 and continued until 2013. The history examines the FDIC¿s response, contributes to an understanding of what occurred, and shares lessons from the agency¿s experience.
Author: Jeffrey Friedman
Publisher: University of Pennsylvania Press
Published: 2011-06-06
Total Pages: 372
ISBN-13: 081220493X
DOWNLOAD EBOOKThe deflation of the subprime mortgage bubble in 2006-7 is widely agreed to have been the immediate cause of the collapse of the financial sector in 2008. Consequently, one might think that uncovering the origins of subprime lending would make the root causes of the crisis obvious. That is essentially where public debate about the causes of the crisis began—and ended—in the month following the bankruptcy of Lehman Brothers and the 502-point fall in the Dow Jones Industrial Average in mid-September 2008. However, the subprime housing bubble is just one piece of the puzzle. Asset bubbles inflate and burst frequently, but severe worldwide recessions are rare. What was different this time? In What Caused the Financial Crisis leading economists and scholars delve into the major causes of the worst financial collapse since the Great Depression and, together, present a comprehensive picture of the factors that led to it. One essay examines the role of government regulation in expanding home ownership through mortgage subsidies for impoverished borrowers, encouraging the subprime housing bubble. Another explores how banks were able to securitize mortgages by manipulating criteria used for bond ratings. How this led to inaccurate risk assessments that could not be covered by sufficient capital reserves mandated under the Basel accords is made clear in a third essay. Other essays identify monetary policy in the United States and Europe, corporate pay structures, credit-default swaps, banks' leverage, and financial deregulation as possible causes of the crisis. With contributions from Richard A. Posner, Vernon L. Smith, Joseph E. Stiglitz, and John B. Taylor, among others, What Caused the Financial Crisis provides a cogent, comprehensive, and credible explanation of why the crisis happened. It will be an essential resource for scholars and students of finance, economics, history, law, political science, and sociology, as well as others interested in the financial crisis and the nature of modern capitalism and regulation.
Author: Peter J. Wallison
Publisher: Encounter Books
Published: 2016-03-29
Total Pages: 331
ISBN-13: 159403866X
DOWNLOAD EBOOKThe 2008 financial crisis—like the Great Depression—was a world-historical event. What caused it will be debated for years, if not generations. The conventional narrative is that the financial crisis was caused by Wall Street greed and insufficient regulation of the financial system. That narrative produced the Dodd-Frank Act, the most comprehensive financial-system regulation since the New Deal. There is evidence, however, that the Dodd-Frank Act has slowed the recovery from the recession. If insufficient regulation caused the financial crisis, then the Dodd-Frank Act will never be modified or repealed; proponents will argue that doing so will cause another crisis. A competing narrative about what caused the financial crisis has received little attention. This view, which is accepted by almost all Republicans in Congress and most conservatives, contends that the crisis was caused by government housing policies. This book extensively documents this view. For example, it shows that in June 2008, before the crisis, 58 percent of all US mortgages were subprime or other low-quality mortgages. Of these, 76 percent were on the books of government agencies such as Fannie Mae and Freddie Mac. When these mortgages defaulted in 2007 and 2008, they drove down housing prices and weakened banks and other mortgage holders, causing the crisis. After this book is published, no one will be able to claim that the financial crisis was caused by insufficient regulation, or defend Dodd-Frank, without coming to terms with the data this book contains.
Author: Dick K. Nanto
Publisher: DIANE Publishing
Published: 2009
Total Pages: 127
ISBN-13: 1437919847
DOWNLOAD EBOOKContents: (1) Recent Developments and Analysis; (2) The Global Financial Crisis and U.S. Interests: Policy; Four Phases of the Global Financial Crisis; (3) New Challenges and Policy in Managing Financial Risk; (4) Origins, Contagion, and Risk; (5) Effects on Emerging Markets: Latin America; Russia and the Financial Crisis; (6) Effects on Europe and The European Response: The ¿European Framework for Action¿; The British Rescue Plan; Collapse of Iceland¿s Banking Sector; (7) Impact on Asia and the Asian Response: Asian Reserves and Their Impact; National Responses; (8) International Policy Issues: Bretton Woods II; G-20 Meetings; The International Monetary Fund; Changes in U.S. Reg¿s. and Regulatory Structure; (9) Legislation.
Author:
Publisher: DIANE Publishing
Published: 2011
Total Pages: 646
ISBN-13: 1437984673
DOWNLOAD EBOOKAuthor: Warren Buffett
Publisher: www.bnpublishing.com
Published: 2011-03-01
Total Pages: 104
ISBN-13: 9781607963561
DOWNLOAD EBOOKIn the revealing interview, Mr. Buffett discusses how he missed predicting the crisis and its effect on the financial system. He also shares thoughts on some of the main players, like Jamie Dimon and Ken Lewis; the logic behind the investments he made in late 2008, and how close the system came to collapse. He also talks about what he calls "the single most important decision in evaluating a business," his thoughts on the US dollar and Moody's, and why he sold Freddie Mac and Fannie Mae.
Author: United States. Congress. House. Committee on Financial Services
Publisher:
Published: 2011
Total Pages: 152
ISBN-13:
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