Robert England

Black Box Casino

How Wall Street's Risky Shadow Banking Crashed Global Finance

• Gebundenes Buch

Produktbeschreibung

This cautionary tale explains how the murky and complex world of mortgage finance caused a global market meltdown-and offers new insights on how to create a stronger world of banking and mortgage finance. Years after the economic crisis of the late 2000s, Americans still want to know what went wrong-and why. Black Box Casino: How Wall Street's Risky Shadow Banking Crashed Global Finance provides an accurate and understandable explanation, compiling and interpreting mountains of evidence to provide clear analysis and insight into the crisis that traumatized people and institutions around the globe. The book provides a thorough, in-depth examination of the multiple contributing factors. The author goes back as far as 15 years before the crisis to show how the well-intentioned idea of providing home ownership prompted a government led effort to steadily weaken credit standards. He assigns partial blame on regulators that were unaware of growing levels of risk, ignored mounting evidence of a housing bubble, and failed to grasp the unintended consequences of certain regulations. The origins of the overload of subprime collateralized debt obligations that led to concentrated risks on the balance sheets of many large banks around the world are also explained.

Produktdetails

• Verlag: Bloomsbury 3PL
• Seitenzahl: 264
• Erscheinungstermin: 12. September 2011
• Englisch
• Abmessung: 240mm x 161mm x 19mm
• Gewicht: 566g
• ISBN-13: 9780313392894
• ISBN-10: 0313392897
• Artikelnr.: 33611970

Autorenporträt

Robert Stowe England has been a financial editor and journalist for more than 20 years. Since 1999 he has served as Director of Research for the Global Aging Initiative (GAI) at CSIS. England has written extensively on employee benefits, retirement, and pensions in a variety of journals and magazines and has written a number of research papers on retirement issues. He has also written often on business strategy, banking, corporate finance, the economy, and foreign affairs. He was the author of three white papers for GAI that were published as monographs for CSIS in 2002: The Fiscal Challenge of an Aging Industrial World, Global Aging and Financial Markets: Hard Landings Ahead? and The Macroeconomic Impact of Global Aging: A New Era of Economic Frailty? England has also been a featured speaker on aging issues at forums around the globe.

Inhaltsangabe

Acknowledgments 1 The Mortgage Meltdown 2 The Panic of 2007 3 Seeds of the
Disaster 4 The Race to the Bottom 5 The Rise of Private Label 6 Wall
Street's Subprime CDO Mania 7 Fast Money and High Stakes 8 American
International Group 9 Bear Stearns 10 Fannie and Freddie 11 Lehman Brothers
12 The Panic of 2008 Glossary Notes Index