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A 360? Look At The Subprime Mortgage Implosion, And How To Avoid The Next Financial Crisis
FT Press
July 2008
On Sale: July 19, 2008
288 pages
ISBN: 0137142900
EAN: 9780137142903
Hardcover
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Non-Fiction
The subprime financial crisis is the decade's #1
financial story. What happened? How did it occur? And how
can we prevent similar crises from happening again? Dr. Mark
Zandi answers all these critical questions - systematically,
carefully, and in plain English. Zandi begins with a
fast-paced "history" of the crisis: where it started, how it
spread, and where the fallout has landed. Next, he
illuminates its deepest causes, ranging from the psychology
of homeownership to Alan Greenspan's missteps. You'll watch
the "flippers" at work and the real estate agents who
cheered them on. You'll learn how Internet technology and
access to global capital transformed mortgage lending,
helping irresponsible lenders "drive out" good ones. Zandi
demystifies the complex financial engineering that enabled
lenders to hide growing risks...reveals how rating agencies
relied on poor data and naïve assumptions to approve risky
instruments...shows how global investors eagerly bought in,
despite key warning signs. You'll discover how homebuilders
contributed to the crisis, and how flummoxed regulators and
policymakers failed to prevent it. Most important, Zandi
previews tomorrow's financial shocks, offering indispensable
advice for everyone they will impact: investors who must
recognize emerging bubbles, policymakers who must improve
oversight and citizens who must reduce their risks, so they
can survive whatever comes next.
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