Download or read book Summary The Subprime Solution written by BusinessNews Publishing, and published by Primento. This book was released on 2017-01-30 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt: The must-read summary of Robert J. Shiller's book: “The Subprime Solution: How Today's Global Financial Crisis Happened, and What to Do About It”. This complete summary of "The Subprime Solution" by Robert J. Shiller, Nobel Laureate and economist, outlines his explanation of how the subprime mortgage crisis arose and his solutions to resolve it. He believes that a restructuring of the institutional foundations of the financial system is necessary for recovery and greater prosperity. Added-value of this summary: • Save time • Understand the subprime mortgage crisis and possible ways of resolving it • Expand your knowledge of economics and finance To learn more, read "The Subprime Solution" and discover some potential, radical solutions that would create the conditions for greater prosperity across the global economy.

Download or read book Summary The Subprime Solution written by Businessnews Publishing and published by . This book was released on 2017-01-30 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The must-read summary of Robert J. Shiller's book: "The Subprime Solution: How Today's Global Financial Crisis Happened, and What to Do About It". This complete summary of "The Subprime Solution" by Robert J. Shiller, Nobel Laureate and economist, outlines his explanation of how the subprime mortgage crisis arose and his solutions to resolve it. He believes that a restructuring of the institutional foundations of the financial system is necessary for recovery and greater prosperity. Added-value of this summary: - Save time - Understand the subprime mortgage crisis and possible ways of resolving it - Expand your knowledge of economics and finance To learn more, read "The Subprime Solution" and discover some potential, radical solutions that would create the conditions for greater prosperity across the global economy.

Download or read book The Subprime Solution written by Robert J. Shiller and published by Princeton University Press. This book was released on 2012-09-24 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: A best-selling economist reveals the origins of the subprime mortgage crisis and puts forward bold measures to resolve it by restructuring the institutional foundations of the financial system in a thoughtful study by the author of Irrational Exuberance. First serial, The Atlantic.

Download or read book Finance and the Good Society written by Robert J. Shiller and published by Princeton University Press. This book was released on 2013-04-21 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: Nobel Prize-winning economist explains why we need to reclaim finance for the common good The reputation of the financial industry could hardly be worse than it is today in the painful aftermath of the 2008 financial crisis. New York Times best-selling economist Robert Shiller is no apologist for the sins of finance—he is probably the only person to have predicted both the stock market bubble of 2000 and the real estate bubble that led up to the subprime mortgage meltdown. But in this important and timely book, Shiller argues that, rather than condemning finance, we need to reclaim it for the common good. He makes a powerful case for recognizing that finance, far from being a parasite on society, is one of the most powerful tools we have for solving our common problems and increasing the general well-being. We need more financial innovation—not less—and finance should play a larger role in helping society achieve its goals. Challenging the public and its leaders to rethink finance and its role in society, Shiller argues that finance should be defined not merely as the manipulation of money or the management of risk but as the stewardship of society's assets. He explains how people in financial careers—from CEO, investment manager, and banker to insurer, lawyer, and regulator—can and do manage, protect, and increase these assets. He describes how finance has historically contributed to the good of society through inventions such as insurance, mortgages, savings accounts, and pensions, and argues that we need to envision new ways to rechannel financial creativity to benefit society as a whole. Ultimately, Shiller shows how society can once again harness the power of finance for the greater good.

Download or read book Understanding the Securitization of Subprime Mortgage Credit written by Adam B. Ashcraft and published by DIANE Publishing. This book was released on 2010-03 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides an overview of the subprime mortgage securitization process and the seven key informational frictions that arise. Discusses the ways that market participants work to minimize these frictions and speculate on how this process broke down. Continues with a complete picture of the subprime borrower and the subprime loan, discussing both predatory borrowing and predatory lending. Presents the key structural features of a typical subprime securitization, documents how rating agencies assign credit ratings to mortgage-backed securities, and outlines how these agencies monitor the performance of mortgage pools over time. The authors draw upon the example of a mortgage pool securitized by New Century Financial during 2006. Illustrations.

Download or read book The Subprime Virus written by Kathleen C. Engel and published by Oxford University Press. This book was released on 2016 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this lively new book, Kathleen C. Engel and Patricia A. McCoy tell the full story behind the subprime crisis. The authors, experts in the law and economics of financial regulation and consumer lending, offer a sharply reasoned, but accessible account of the actions that produced the greatest economic collapse since the Great Depression.

Download or read book Subprime Attention Crisis written by Tim Hwang and published by FSG Originals. This book was released on 2020-10-13 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt: From FSGO x Logic: a revealing examination of digital advertising and the internet's precarious foundation In Subprime Attention Crisis, Tim Hwang investigates the way big tech financializes attention. In the process, he shows us how digital advertising—the beating heart of the internet—is at risk of collapsing, and that its potential demise bears an uncanny resemblance to the housing crisis of 2008. From the unreliability of advertising numbers and the unregulated automation of advertising bidding wars, to the simple fact that online ads mostly fail to work, Hwang demonstrates that while consumers’ attention has never been more prized, the true value of that attention itself—much like subprime mortgages—is wildly misrepresented. And if online advertising goes belly-up, the internet—and its free services—will suddenly be accessible only to those who can afford it. Deeply researched, convincing, and alarming, Subprime Attention Crisis will change the way you look at the internet, and its precarious future. FSG Originals × Logic dissects the way technology functions in everyday lives. The titans of Silicon Valley, for all their utopian imaginings, never really had our best interests at heart: recent threats to democracy, truth, privacy, and safety, as a result of tech’s reckless pursuit of progress, have shown as much. We present an alternate story, one that delights in capturing technology in all its contradictions and innovation, across borders and socioeconomic divisions, from history through the future, beyond platitudes and PR hype, and past doom and gloom. Our collaboration features four brief but provocative forays into the tech industry’s many worlds, and aspires to incite fresh conversations about technology focused on nuanced and accessible explorations of the emerging tools that reorganize and redefine life today.

Download or read book Animal Spirits written by George A. Akerlof and published by Princeton University Press. This book was released on 2010-02-01 with total page 261 pages. Available in PDF, EPUB and Kindle. Book excerpt: From acclaimed economists George Akerlof and Robert Shiller, the case for why government is needed to restore confidence in the economy The global financial crisis has made it painfully clear that powerful psychological forces are imperiling the wealth of nations today. From blind faith in ever-rising housing prices to plummeting confidence in capital markets, "animal spirits" are driving financial events worldwide. In this book, acclaimed economists George Akerlof and Robert Shiller challenge the economic wisdom that got us into this mess, and put forward a bold new vision that will transform economics and restore prosperity. Akerlof and Shiller reassert the necessity of an active government role in economic policymaking by recovering the idea of animal spirits, a term John Maynard Keynes used to describe the gloom and despondence that led to the Great Depression and the changing psychology that accompanied recovery. Like Keynes, Akerlof and Shiller know that managing these animal spirits requires the steady hand of government—simply allowing markets to work won't do it. In rebuilding the case for a more robust, behaviorally informed Keynesianism, they detail the most pervasive effects of animal spirits in contemporary economic life—such as confidence, fear, bad faith, corruption, a concern for fairness, and the stories we tell ourselves about our economic fortunes—and show how Reaganomics, Thatcherism, and the rational expectations revolution failed to account for them. Animal Spirits offers a road map for reversing the financial misfortunes besetting us today. Read it and learn how leaders can channel animal spirits—the powerful forces of human psychology that are afoot in the world economy today. In a new preface, they describe why our economic troubles may linger for some time—unless we are prepared to take further, decisive action.

Download or read book Seeds of Destruction written by Glenn Hubbard and published by FT Press. This book was released on 2010-08-13 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: If you think the current administration is mismanaging the economy straight towards disaster, you're not alone: so do two top economists from both sides of the political aisle. In Seeds of Destruction, former Bush chief White House economist R. Glenn Hubbard and well-known CNBC commentator Peter Navarro explain why current economic policy is a catastrophic failure. Then, they offer a comprehensive, bipartisan blueprint for reversing the decline of America's currency, manufacturing base, and standard of living - setting the stage for the epic policy debates that will precede the 2010 elections. Hubbard and Navarro begin with a "checklist" of what it takes to be a prosperous, democratic nation - and show why Obama's policies (some of Bush's also) fail on every level. They explain why the activist Federal Reserve and Obama fiscal stimulus policies are doing far more harm than good... why we must restore the U.S. manufacturing base, whatever China says about it... how to transform tax policy into an engine of growth and innovation... how to apply the "tough love" needed to save Social Security, Medicare, and Medicaid... why America must resign the job of world policeman... how market-based solutions can finally deliver real energy independence... how to reform our antique financial regulatory system without imposing heavy-handed rules that cause even more trouble.

Download or read book Confessions of a Subprime Lender written by Richard Bitner and published by John Wiley & Sons. This book was released on 2008-06-16 with total page 159 pages. Available in PDF, EPUB and Kindle. Book excerpt: Former subprime lender Richard Bitner once worked in an industry that started out helping disadvantaged customers but collapsed due to greed, lack of financial control and willful ignorance. In Confessions of a Subprime Lender: An Insider's Tale of Greed, Fraud, and Ignorance, he reveals the truth about how the subprime lending business spiraled out of control, pushed home prices to unsustainable levels, and turned unqualified applicants into qualified borrowers through creative financing. Learn about the ways the mortgage industry can be fixed with his twenty suggestions for critical change.

Download or read book Lessons from the Financial Crisis written by Rob Quail and published by John Wiley & Sons. This book was released on 2010-06-08 with total page 708 pages. Available in PDF, EPUB and Kindle. Book excerpt: The world's best financial minds help us understand today's financial crisis With so much information saturating the market for the everyday investor, trying to understand why the economic crisis happened and what needs to be done to fix it can be daunting. There is a real need, and demand, from both investors and the financial community to obtain answers as to what really happened and why. Lessons from the Financial Crisis brings together the leading minds in the worlds of finance and academia to dissect the crisis. Divided into three comprehensive sections-The Subprime Crisis; The Global Financial Crisis; and Law, Regulation, the Financial Crisis, and The Future-this book puts the events that have transpired in perspective, and offers valuable insights into what we must do to avoid future missteps. Each section is comprised of chapters written by experienced contributors, each with his or her own point of view, research, and conclusions Examines the market collapse in detail and explores safeguards to stop future crises Encompasses the most up-to-date analysis from today's leading financial minds We currently face a serious economic crisis, but in understanding it, we can overcome the challenges it presents. This well-rounded resource offers the best chance to get through the current situation and learn from our mistakes.

Download or read book The Financial Crisis Inquiry Report written by Financial Crisis Inquiry Commission and published by Cosimo, Inc.. This book was released on 2011-05-01 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Financial Crisis Inquiry Report, published by the U.S. Government and the Financial Crisis Inquiry Commission in early 2011, is the official government report on the United States financial collapse and the review of major financial institutions that bankrupted and failed, or would have without help from the government. The commission and the report were implemented after Congress passed an act in 2009 to review and prevent fraudulent activity. The report details, among other things, the periods before, during, and after the crisis, what led up to it, and analyses of subprime mortgage lending, credit expansion and banking policies, the collapse of companies like Fannie Mae and Freddie Mac, and the federal bailouts of Lehman and AIG. It also discusses the aftermath of the fallout and our current state. This report should be of interest to anyone concerned about the financial situation in the U.S. and around the world.THE FINANCIAL CRISIS INQUIRY COMMISSION is an independent, bi-partisan, government-appointed panel of 10 people that was created to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." It was established as part of the Fraud Enforcement and Recovery Act of 2009. The commission consisted of private citizens with expertise in economics and finance, banking, housing, market regulation, and consumer protection. They examined and reported on "the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government."News Dissector DANNY SCHECHTER is a journalist, blogger and filmmaker. He has been reporting on economic crises since the 1980's when he was with ABC News. His film In Debt We Trust warned of the economic meltdown in 2006. He has since written three books on the subject including Plunder: Investigating Our Economic Calamity (Cosimo Books, 2008), and The Crime Of Our Time: Why Wall Street Is Not Too Big to Jail (Disinfo Books, 2011), a companion to his latest film Plunder The Crime Of Our Time. He can be reached online at www.newsdissector.com.

Download or read book Fool s Gold written by Gillian Tett and published by Simon and Schuster. This book was released on 2009-05-12 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: From award-winning Financial Times journalist Gillian Tett, who enraged Wall Street leaders with her news-breaking warnings of a crisis more than a year ahead of the curve, Fool’s Gold tells the astonishing unknown story at the heart of the 2008 meltdown. Drawing on exclusive access to J.P. Morgan CEO Jamie Dimon and a tightly bonded team of bankers known on Wall Street as the “Morgan Mafia,” as well as in-depth interviews with dozens of other key players, including Treasury Secretary Timothy Geithner, Tett brings to life in gripping detail how the Morgan team’s bold ideas for a whole new kind of financial alchemy helped to ignite a revolution in banking, and how that revolution escalated wildly out of control. The deeply reported and lively narrative takes readers behind the scenes, to the inner sanctums of elite finance and to the secretive reaches of what came to be known as the “shadow banking” world. The story begins with the intense Morgan brainstorming session in 1994 beside a pool in Boca Raton, where the team cooked up a dazzling new idea for the exotic financial product known as credit derivatives. That idea would rip around the banking world, catapult Morgan to the top of the turbocharged derivatives trade, and fuel an extraordinary banking boom that seemed to have unleashed banks from ages-old constraints of risk. But when the Morgan team’s derivatives dream collided with the housing boom, and was perverted—through hubris, delusion, and sheer greed—by titans of banking that included Citigroup, UBS, Deutsche Bank, and the thundering herd at Merrill Lynch—even as J.P. Morgan itself stayed well away from the risky concoctions others were peddling—catastrophe followed. Tett’s access to Dimon and the J.P. Morgan leaders who so skillfully steered their bank away from the wild excesses of others sheds invaluable light not only on the untold story of how they engineered their bank’s escape from carnage but also on how possible it was for the larger banking world, regulators, and rating agencies to have spotted, and heeded, the terrible risks of a meltdown. A tale of blistering brilliance and willfully blind ambition, Fool’s Gold is both a rare journey deep inside the arcane and wildly competitive world of high finance and a vital contribution to understanding how the worst economic crisis since the Great Depression was perpetrated.

Download or read book Aftershock written by David Wiedemer and published by John Wiley & Sons. This book was released on 2011-07-07 with total page 314 pages. Available in PDF, EPUB and Kindle. Book excerpt: A practical guide to preparing for the next phase of the financial meltdown From the authors who were the first to predict Phase I of our current economic downturn-in their landmark 2006 book, America's Bubble Economy-comes their insightful sequel discussing their predictions for the next phase of the Bubble Economy. It may seem like the worst has come and gone, but it hasn't. With their proven track record of accurate predictions-which most financial professionals and economists missed-the authors explain how and why the next phase of the financial meltdown is about to hit. Things are not going back to how they were before. Instead, we are moving through uncharted territory, with new challenges and opportunities that few people can anticipate. Written in a straightforward and accessible style, Aftershock shows readers how to seek safety and profits in these dynamic economic conditions. Discusses how to protect assets, businesses, and jobs before and during the second wave of financial meltdown Provides clear and accurate advice on how to profit from the collapsing bubbles Offer focused guidance regarding real estate, which will continue to be a pressing concern for many The authors' first book was chosen by Kiplinger's as one of the 30 Best Business Books of 2006, and its accuracy has been hailed by Paul Farrell of Dow Jones MarketWatch when he said "America's Bubble Economy's Predictions, though ignored, were accurate." Don't miss out on these time tested author's proven advice for how to mange your money during the coming financial meltdown.

Download or read book Lost Decades The Making of America s Debt Crisis and the Long Recovery written by Menzie D. Chinn and published by W. W. Norton & Company. This book was released on 2011-09-19 with total page 259 pages. Available in PDF, EPUB and Kindle. Book excerpt: A clear, authoritative guide to the crisis of 2008, its continuing repercussions, and the needed reforms ahead. The U.S. economy lost the first decade of the twenty-first century to an ill-conceived boom and subsequent bust. It is in danger of losing another decade to the stagnation of an incomplete recovery. How did this happen? Read this lucid explanation of the origins and long-term effects of the recent financial crisis, drawn in historical and comparative perspective by two leading political economists. By 2008 the United States had become the biggest international borrower in world history, with more than two-thirds of its $6 trillion federal debt in foreign hands. The proportion of foreign loans to the size of the economy put the United States in league with Mexico, Indonesia, and other third-world debtor nations. The massive inflow of foreign funds financed the booms in housing prices and consumer spending that fueled the economy until the collapse of late 2008. This was the most serious international economic crisis since the Great Depression of the 1930s. Menzie Chinn and Jeffry Frieden explain the political and economic roots of this crisis as well as its long-term effects. They explore the political strategies behind the Bush administration’s policy of funding massive deficits with foreign borrowing. They show that the crisis was foreseen by many and was avoidable through appropriate policy measures. They examine the continuing impact of our huge debt on the continuing slow recovery from the recession. Lost Decades will long be regarded as the standard account of the crisis and its aftermath.

Download or read book The End of Finance written by Massimo Amato and published by John Wiley & Sons. This book was released on 2013-12-19 with total page 442 pages. Available in PDF, EPUB and Kindle. Book excerpt: This new book by two distinguished Italian economists is a highly original contribution to our understanding of the origins and aftermath of the financial crisis. The authors show that the recent financial crisis cannot be understood simply as a malfunctioning in the subprime mortgage market: rather, it is rooted in a much more fundamental transformation, taking place over an extended time period, in the very nature of finance. The ‘end’ or purpose of finance is to be found in the social institutions by which the making and acceptance of promises of payment are made possible - that is, the creation and cancellation of debt contracts within a specified time frame. Amato and Fantacci argue that developments in the modern financial system by which debts are securitized has endangered this fundamental credit/debt structure. The illusion has been created that debts are universally liquid in the sense that they need not be redeemed but can be continually sold on in increasingly extensive global markets. What appears to have reduced the riskiness of default for individual agents has in fact increased the fragility of the system as a whole. The authors trace the origins of this profound transformation backwards in time, not just to the neoliberal reforms of the 1980s and 90s but to the birth of capitalist finance in the mercantile networks of the sixteenth and seventeenth centuries. This long historical perspective and deep analysis of the nature of finance enables the authors to tackle the challenges we face today in a fresh way - not simply by tinkering with existing mechanisms, but rather by asking the more profound question of how institutions might be devised in which finance could fulfil its essential functions.

Download or read book Fixing Global Finance written by Martin Wolf and published by JHU Press. This book was released on 2010-04-01 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since 2008, when Fixing Global Finance was first published, the collapse of the housing and credit bubbles of the 2000s has crippled the world’s economy. In this updated edition, Financial Times columnist Martin Wolf explains how global imbalances helped cause the financial crises now ravaging the U.S. economy and outlines steps for ending this destructive cycle—of which this is the latest and biggest. An expanded conclusion recommends near- and long-term measures to stabilize and protect financial markets in the future. Reviewing global financial crises since 1980, Wolf lays bare the links between the microeconomics of finance and the macroeconomics of the balance of payments, demonstrating how the subprime lending crisis in the United States fits into a pattern that includes the economic shocks of 1997, 1998, and early 1999 in Latin America, Russia, and Asia. He explains why the United States became the “borrower and spender of last resort,” makes the case that this was an untenable arrangement, and argues that global economic security depends on radical reforms in the international monetary system and the ability of emerging economies to borrow sustainably in domestic currencies. Sharply and clearly argued, Wolf’s prescription for fixing global finance illustrates why he has been described as "the world's preeminent financial journalist."