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Binding: HardcoverDewey Decimal Number: 332.7220973 EAN: 9780137142903 Edition: 1 ISBN: 0137142900 Label: FT Press Manufacturer: FT Press Number Of Items: 1 Number Of Pages: 288 Publication Date: July 19, 2008 Publisher: FT Press Studio: FT Press Accessories:
Editorial Review: Product Description: From the Back Cover 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 and 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. Zandi offers indispensable advice for 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. Average Rating:
 Rating:  - A primer to the proper wayIn Layman terms the Author explains what happened, What Didn't and what should have. Everyone can understand all he explains and should be taught a grave lesson. America is the greatest country in this world but everyone cannot have a home. That is until they Qualify. From our politicians through the Mortgage lenders and brokers it is explained how they intellectially took advantage of the poor and ignorant. Blaim who you wish but if someone offers those deals to someone poor can anyone believe they ... Read More Rating: - An exellent in-depth exploration (for the financial layperson) of the subprime mortgage implosionTargeted largely at the financial layperson interested in the causes of the worldwide financial crisis brought about largely by the subprime mortgage implosion, Financial Shock is a quick yet surprisingly informative read. Author Mark Zandi co-founded and is the chief economist for Moody's Economy.com, lending him both the credence and the expertise to craft a book that does a good job summarizing the complex causes of the economic meltdown that exploded in 2008. Believe it or not, even ... Read More Rating:  - Deliberately Missing the PointThere's a good reason why Barney Frank provides a glowing blurb for this book---the author utterly evades the true causes of the current mess and muddies the waters quite nicely on Frank's behalf. Two things represent the root causes of the subprime mortgage mess: 1. Democrats, Barney Frank in the lead, demanded that banks make more mortgage loans to people who couldn't pay them back, which also had the salient virtue of driving billions of dollars to Democrat-run Fannie Mae ... Read More Rating:  - Good primer on the subprime meltdownThese are tense times in America. Times that require a moment of reflection before I get to the meat of this review. As I write, the stock market has taken a record-breaking one-week panic-driven nosedive that has wiped out over a trillion dollars of investor wealth. This comes a week after the House voted to approve a 700 billion dollar stimulus bill to try to reopen clogged credit markets by reinfusing cash into the capital-parched banking system. World financial markets are in turmoil, threatening emerging ... Read More Rating: - A book that must be readIn the wake of this worldwide financial crisis, Financial Shock is a book that must be read. Mark Zandi gives a complete and detailed analysis of the subprime mortgage debacle. This book is well written, very informative, and is an interesting read. I intend to read this repeatedly to fully ingest it. In reading this, the lesson revealed is that balance is essential and greed is not good in the long run. Every aspect of the crisis is analyzed. Everything became too big. Unscrupulous lenders talked prospective buyers ... Read More |
