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Other People's Houses - How Decades of Bailouts, Captive Regulators, and Toxic Bankers Made Home Mortgages a Thrilling Business (Paperback)
Loot Price: R1,320
Discovery Miles 13 200
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Other People's Houses - How Decades of Bailouts, Captive Regulators, and Toxic Bankers Made Home Mortgages a Thrilling Business (Paperback)
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The clearest explanation yet of how the financial crisis of 2008
developed and why it could happen again In the wake of the
financial meltdown in 2008, many claimed that it had been
inevitable, that no one saw it coming, and that subprime borrowers
were to blame. This accessible, thoroughly researched book is
Jennifer Taub's response to such unfounded claims. Drawing on
wide-ranging experience as a corporate lawyer, investment firm
counsel, and scholar of business law and financial market
regulation, Taub chronicles how government officials helped bankers
inflate the toxic-mortgage-backed housing bubble, then after the
bubble burst ignored the plight of millions of homeowners suddenly
facing foreclosure. Focusing new light on the similarities between
the savings and loan debacle of the 1980s and the financial crisis
in 2008, Taub reveals that in both cases the same reckless banks,
operating under different names, received government bailouts,
while the same lax regulators overlooked fraud and abuse.
Furthermore, in 2013 the situation is essentially unchanged. The
author asserts that the 2008 crisis was not just similar to the
S&L scandal, it was a severe relapse of the same underlying
disease. And despite modest regulatory reforms, the disease remains
uncured: top banks remain too big to manage, too big to regulate,
and too big to fail.
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