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Bailouts And The Foreclosure Crisis
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Author :United States. Congress. House. Committee on Oversight and Government Reform Publisher : ISBN 13 : Total Pages :119 pages Book Rating :4.:/5 (994 download)
Book Synopsis Bailouts and the Foreclosure Crisis by : United States. Congress. House. Committee on Oversight and Government Reform
Download or read book Bailouts and the Foreclosure Crisis written by United States. Congress. House. Committee on Oversight and Government Reform and published by . This book was released on 2011 with total page 119 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :United States. Congress. House. Committee on Oversight and Government Reform Publisher : ISBN 13 : Total Pages :128 pages Book Rating :4.:/5 (318 download)
Book Synopsis Bailouts and the Foreclosure Crisis by : United States. Congress. House. Committee on Oversight and Government Reform
Download or read book Bailouts and the Foreclosure Crisis written by United States. Congress. House. Committee on Oversight and Government Reform and published by . This book was released on 2011 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Other People's Houses by : Jennifer Taub
Download or read book Other People's Houses written by Jennifer Taub and published by Yale University Press. This book was released on 2014-05-27 with total page 538 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Bailouts and the Foreclosure Crisis: Report of the Special Inspector General, ... Serial No. 112-1, January 26, 2011, 112-1 Hearing, *. by :
Download or read book Bailouts and the Foreclosure Crisis: Report of the Special Inspector General, ... Serial No. 112-1, January 26, 2011, 112-1 Hearing, *. written by and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Last Resort written by Eric A. Posner and published by University of Chicago Press. This book was released on 2018-04-02 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: The bailouts during the recent financial crisis enraged the public. They felt unfair—and counterproductive: people who take risks must be allowed to fail. If we reward firms that make irresponsible investments, costing taxpayers billions of dollars, aren’t we encouraging them to continue to act irresponsibly, setting the stage for future crises? And beyond the ethics of it was the question of whether the government even had the authority to bail out failing firms like Bear Stearns and AIG. The answer, according to Eric A. Posner, is no. The federal government freely and frequently violated the law with the bailouts—but it did so in the public interest. An understandable lack of sympathy toward Wall Street has obscured the fact that bailouts have happened throughout economic history and are unavoidable in any modern, market-based economy. And they’re actually good. Contrary to popular belief, the financial system cannot operate properly unless the government stands ready to bail out banks and other firms. During the recent crisis, Posner agues, the law didn’t give federal agencies sufficient power to rescue the financial system. The legal constraints were damaging, but harm was limited because the agencies—with a few exceptions—violated or improvised elaborate evasions of the law. Yet the agencies also abused their power. If illegal actions were what it took to advance the public interest, Posner argues, we ought to change the law, but we need to do so in a way that also prevents agencies from misusing their authority. In the aftermath of the crisis, confusion about what agencies did do, should have done, and were allowed to do, has prevented a clear and realistic assessment and may hamper our response to future crises. Taking up the common objections raised by both right and left, Posner argues that future bailouts will occur. Acknowledging that inevitability, we can and must look ahead and carefully assess our policy options before we need them.
Author :United States. Congress Publisher :Createspace Independent Publishing Platform ISBN 13 :9781981897018 Total Pages :124 pages Book Rating :4.8/5 (97 download)
Book Synopsis Bailouts and the Foreclosure Crisis by : United States. Congress
Download or read book Bailouts and the Foreclosure Crisis written by United States. Congress and published by Createspace Independent Publishing Platform. This book was released on 2017-12-23 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bailouts and the foreclosure crisis : report of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) : hearing before the Committee on Oversight and Government Reform, House of Representatives, One Hundred Twelfth Congress, first session, January 26, 2011.
Book Synopsis The Financial Crisis Inquiry Report by : Financial Crisis Inquiry Commission
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 Bailout written by Neil Barofsky and published by Simon and Schuster. This book was released on 2013-02-05 with total page 295 pages. Available in PDF, EPUB and Kindle. Book excerpt: Includes a new foreword to the paperback edition.
Book Synopsis Upside Down in Americ by : Bebe Stokes
Download or read book Upside Down in Americ written by Bebe Stokes and published by Xulon Press. This book was released on 2012-06 with total page 146 pages. Available in PDF, EPUB and Kindle. Book excerpt: "If you are 'upside down' and/or facing foreclosure of your home, life can seem like a runaway train careening toward disaster. During the process of completing this book, I noticed the laws are changing rapidly. But real options are open to you-and it's time you knew them......
Book Synopsis Too Big to Fail Snafu by : Lou Lawrence
Download or read book Too Big to Fail Snafu written by Lou Lawrence and published by . This book was released on 2017-04-27 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2008 Great Housing Recession cost taxpayers $14 trillion, and the government has masked the cost. The government's "Too Big To Fail" idea went overboard and rewarded Wall Street culprits who caused the subprime mortgage disaster with bailout money. Unfortunately, Main Street was not included in the bailouts and 200,000 businesses went bankrupt. Despite the claim that the auto industry was bailed out, Chrysler and General Motors also were driven into bankruptcy - there was no automobile company bailout. The treatise covers the causes and effects of the financial crisis that Ben Bernanke, chair of the Federal Reserve, has called the worst economic period in world history, including the Great Depression of the 1930s. There were actually two major elements of the 2008 recession - the housing debacle, and the subprime mortgage mess. The combination created a $50 trillion worldwide financial breakdown. The government caused the housing element with legislation for affordable housing for minorities and low-income families. The attempt to give homes to everybody failed, and home ownership actually declined due to 15 million foreclosures. Wall Street took advantage of the increase in mortgages by creating mortgage bonds that included toxic subprime mortgages. When the new homeowners could not make the mortgage payments, the result was foreclosure. The 15 million foreclosures put an end to the mortgage backed securities and drove Wall Street, banks, and mortgage firms into bankruptcy.
Book Synopsis The Foreclosure of America by : Adam Michaelson
Download or read book The Foreclosure of America written by Adam Michaelson and published by Penguin. This book was released on 2009-01-06 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: Now in paperback-an inside look at Countrywide Home Loans and the mortgage crisis, from a former mortgage lender executive. In July 2004, Adam Michaelson attended a high-level meeting at Countrywide Financial headquarters about a new loan product that would allow borrowers to pay less than their minimum monthly payment. The "finance jocks" believed that the booming housing market would only get bigger, supporting homeowners in a cycle of borrowing against their houses and refinancing later. They were wrong. And when the bottom dropped out, Countrywide suffered the consequences-as did millions of Americans. With an insider's knowledge and thorough reporting on the impact on American families and the ripple effects on the economy, Michaelson examines the marketing of a mirage and the bad business decisions that destroyed a company, confronts the ethical questions that have arisen in the wake of the foreclosure crisis, and offers creative proposals to prevent such a meltdown from ever happening again.
Download or read book Financial Shock written by Mark M. Zandi and published by Ft Press. This book was released on 2009 with total page 293 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examines the underlying causes of the current mortgage crisis, from irresponsible lenders and predatory speculators to home "flippers" and less-than-truthful borrowers, and provides advice for reforms and regulations which could prevent a recurrence in the future.
Book Synopsis Ending Government Bailouts as We Know Them by : Kenneth E. Scott
Download or read book Ending Government Bailouts as We Know Them written by Kenneth E. Scott and published by Hoover Press. This book was released on 2013-09-01 with total page 353 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the dangers of continuing government bailouts and offers alternative strategies designed to produce growth based on the vigor of the private sector with inflation under control. The expert authors show that it is indeed possible to explain the causes of the crisis in understandable terms and clarify why resolving the bailout problem is essential to preventing future crises.
Book Synopsis The Power of Inaction by : Cornelia Woll
Download or read book The Power of Inaction written by Cornelia Woll and published by Cornell University Press. This book was released on 2014-04-17 with total page 187 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bank bailouts in the aftermath of the collapse of Lehman Brothers and the onset of the Great Recession brought into sharp relief the power that the global financial sector holds over national politics, and provoked widespread public outrage. In The Power of Inaction, Cornelia Woll details the varying relationships between financial institutions and national governments by comparing national bank rescue schemes in the United States and Europe. Woll starts with a broad overview of bank bailouts in more than twenty countries. Using extensive interviews conducted with bankers, lawmakers, and other key players, she then examines three pairs of countries where similar outcomes might be expected: the United States and United Kingdom, France and Germany, Ireland and Denmark. She finds, however, substantial variation within these pairs. In some cases the financial sector is intimately involved in the design of bailout packages; elsewhere it chooses to remain at arm’s length.Such differences are often ascribed to one of two conditions: either the state is strong and can impose terms, or the state is weak and corrupted by industry lobbying. Woll presents a third option, where the inaction of the financial sector critically shapes the design of bailout packages in favor of the industry. She demonstrates that financial institutions were most powerful in those settings where they could avoid a joint response and force national policymakers to deal with banks on a piecemeal basis. The power to remain collectively inactive, she argues, has had important consequences for bailout arrangements and ultimately affected how the public and private sectors have shared the cost burden of these massive policy decisions.
Book Synopsis Report to Congress on the Root Causes of the Foreclosure Crisis by : Christopher E. Herbert
Download or read book Report to Congress on the Root Causes of the Foreclosure Crisis written by Christopher E. Herbert and published by DIANE Publishing. This book was released on 2010-06 with total page 83 pages. Available in PDF, EPUB and Kindle. Book excerpt: Analyzes data and trends in the residential housing market and reviews the academic lit. and industry press on the root causes of the current foreclosure crisis (FC). Provides a review of policy responses and recommended actions to mitigate the FC and help prevent similar crises from occurring in the future. Contents: (1) Trends in Delinquencies and Foreclosures: Regional Trends in Foreclosures; (2) Lit. Review: General Lit. on Causes of Foreclosures and Delinquencies; Lit. Assessing Causes of the Current FC; Factors Enabling Expanded Risky Lending; (3) Policy Responses to the FC: Efforts To Address Rising Foreclosures; Efforts To Reduce the Risk of High Rates of Mortgage Foreclosures in the Future; Mortgage Market Reform. Illus.
Book Synopsis Days of Slaughter by : Susan Wharton Gates
Download or read book Days of Slaughter written by Susan Wharton Gates and published by JHU Press. This book was released on 2017-03-14 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: A cautionary tale of failed policies and corporate mismanagement that compellingly addresses previously unexplored issues of political ideology, organizational dynamics, and ethics, Days of Slaughter will appeal to readers everywhere who want a fuller explanation of what went awry in the US housing market.
Download or read book Bailout Nation written by Barry Ritholtz and published by John Wiley & Sons. This book was released on 2009-06-15 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt: An engaging look at what led to the financial turmoil we now find ourselves in Bailout Nation offers one of the clearest looks at the financial lenders, regulators, and politicians responsible for the financial crisis of 2008. Written by Barry Ritholtz, one of today's most popular economic bloggers and a well-established industry pundit, this book skillfully explores how the United States evolved from a rugged independent nation to a soft Bailout Nation-where financial firms are allowed to self-regulate in good times, but are bailed out by taxpayers in bad times. Entertaining and informative, this book clearly shows you how years of trying to control the economy with easy money has finally caught up with the federal government and how its practice of repeatedly rescuing Wall Street has come back to bite them. The definitive book on the financial crisis of 2008 Names the culprits responsible for this tragedy-from financial regulators to politicians Shows how each bailout throughout modern history has impacted what happened in the future Examines why the consumer/taxpayer is left suffering in an economy of bubbles, bailouts, and possible inflation Ritholtz operates a hugely popular blog, www.ritholtz.com/blog Scathing, but fair, Bailout Nation is a voice of reason in these uncertain economic times.
