The Anatomy Of An Economic Failure

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Venezuela Before Chávez

Author : Ricardo Hausmann
Publisher : Penn State Press
ISBN 13 : 0271064641
Total Pages : 549 pages
Book Rating : 4.2/5 (71 download)

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Book Synopsis Venezuela Before Chávez by : Ricardo Hausmann

Download or read book Venezuela Before Chávez written by Ricardo Hausmann and published by Penn State Press. This book was released on 2015-06-13 with total page 549 pages. Available in PDF, EPUB and Kindle. Book excerpt: At the beginning of the twentieth century, Venezuela had one of the poorest economies in Latin America, but by 1970 it had become the richest country in the region and one of the twenty richest countries in the world, ahead of countries such as Greece, Israel, and Spain. Between 1978 and 2001, however, Venezuela’s economy went sharply in reverse, with non-oil GDP declining by almost 19 percent and oil GDP by an astonishing 65 percent. What accounts for this drastic turnabout? The editors of Venezuela Before Chávez, who each played a policymaking role in the country’s economy during the past two decades, have brought together a group of economists and political scientists to examine systematically the impact of a wide range of factors affecting the economy’s collapse, from the cost of labor regulation and the development of financial markets to the weakening of democratic governance and the politics of decisions about industrial policy. Aside from the editors, the contributors are Omar Bello, Adriana Bermúdez, Matías Braun, Javier Corrales, Jonathan Di John, Rafael Di Tella, Javier Donna, Samuel Freije, Dan Levy, Robert MacCulloch, Osmel Manzano, Francisco Monaldi, María Antonia Moreno, Daniel Ortega, Michael Penfold, José Pineda, Lant Pritchett, Cameron A. Shelton, and Dean Yang.

Anatomy of the Economic Crisis

Author : Sam Marcy
Publisher :
ISBN 13 : 9780895670779
Total Pages : 120 pages
Book Rating : 4.6/5 (77 download)

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Book Synopsis Anatomy of the Economic Crisis by : Sam Marcy

Download or read book Anatomy of the Economic Crisis written by Sam Marcy and published by . This book was released on 1982 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Financial Crisis Inquiry Report

Author : Financial Crisis Inquiry Commission
Publisher : Cosimo, Inc.
ISBN 13 : 1616405414
Total Pages : 692 pages
Book Rating : 4.6/5 (164 download)

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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.

The Banks Did It

Author : Neil Fligstein
Publisher : Harvard University Press
ISBN 13 : 0674249356
Total Pages : 334 pages
Book Rating : 4.6/5 (742 download)

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Book Synopsis The Banks Did It by : Neil Fligstein

Download or read book The Banks Did It written by Neil Fligstein and published by Harvard University Press. This book was released on 2021-06-08 with total page 334 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive account of the rise and fall of the mortgage-securitization industry, which explains the complex roots of the 2008 financial crisis. More than a decade after the 2008 financial crisis plunged the world economy into recession, we still lack an adequate explanation for why it happened. Existing accounts identify a number of culpritsÑfinancial instruments, traders, regulators, capital flowsÑyet fail to grasp how the various puzzle pieces came together. The key, Neil Fligstein argues, is the convergence of major US banks on an identical business model: extracting money from the securitization of mortgages. But how, and why, did this convergence come about? The Banks Did It carefully takes the reader through the development of a banking industry dependent on mortgage securitization. Fligstein documents how banks, with help from the government, created the market for mortgage securities. The largest banksÑCountrywide Financial, Bear Stearns, Citibank, and Washington MutualÑsoon came to participate in every aspect of this market. Each firm originated mortgages, issued mortgage-backed securities, sold those securities, and, in many cases, acted as their own best customers by purchasing the same securities. Entirely reliant on the throughput of mortgages, these firms were unable to alter course even when it became clear that the market had turned on them in the mid-2000s. With the structural features of the banking industry in view, the rest of the story falls into place. Fligstein explains how the crisis was produced, where it spread, why regulators missed the warning signs, and how banksÕ dependence on mortgage securitization resulted in predatory lending and securities fraud. An illuminating account of the transformation of the American financial system, The Banks Did It offers important lessons for anyone with a stake in avoiding the next crisis.

Wall Street and the Financial Crisis

Author : Senate Subcommittee on Investigations
Publisher : Cosimo, Inc.
ISBN 13 : 1616405457
Total Pages : 664 pages
Book Rating : 4.6/5 (164 download)

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Book Synopsis Wall Street and the Financial Crisis by : Senate Subcommittee on Investigations

Download or read book Wall Street and the Financial Crisis written by Senate Subcommittee on Investigations and published by Cosimo, Inc.. This book was released on 2011-07-01 with total page 664 pages. Available in PDF, EPUB and Kindle. Book excerpt: After a two-year investigation by the Senate Permanent Subcommittee on Investigation, their report, Wall Street and the Financial Crisis: Anatomy of a Financial Collapse was released in April 2011. This is the most damning official report to date on Wall Street's role in the financial crisis. It describes the wheeling and dealing of bankers and others who benefited from the housing bubble while impoverishing the rest of America. It also offers four very clear causes of the financial crisis and, last but not least, it names culprits: - High risk mortgage loans by commercial banks were "the fuel that ignited the financial crisis" (describing the case study of Washington Mutual Bank, the sixth largest commercial bank at the time of its failure in September, 2008 ) - Failures by regulators "set the stage for mortgage loan losses that were a proximate cause of the financial crisis" (describing the case study of the Office of the Thrift Supervision, which was closed in 2010 and whose operations folded into the Office of the Comptroller of the Currency); - Inaccurate AAA credit ratings by the two largest credit rating agencies "constituted a key cause of the financial crisis" (describing Moody's and Standard & Poor's conflicts of interest while both had a quasi-monopoly position in the market for credit ratings); - Investment bank abuses: "The Investment banks that engineered, sold, traded, and profited from mortgage-related structured finance products were a major cause of the financial crisis" (describing case studies of Goldman Sachs and Deutsche Bank). This report and its detailed case studies are a must-read for policymakers, politicians, justice officials, bankers, journalists, academics and concerned citizens in order to understand what brought the economy to the brink of destruction. The U.S. SENATE PERMANENT SUBCOMMITTEE ON INVESTIGATIONS (PSI) is a bi-partisan team of senators that deals with Homeland Security and Governmental Affairs, and is currently headed by Senator Carl Levin (D-MI) and Senator Tom Coburn (R-OK). Formerly known as the Committee on Government Operations, PSI is the oldest subcommittee of the Senate Homeland Security Committee.

Anatomy of Failure

Author : Harlan Ullman
Publisher : Naval Institute Press
ISBN 13 : 1682472264
Total Pages : 219 pages
Book Rating : 4.6/5 (824 download)

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Book Synopsis Anatomy of Failure by : Harlan Ullman

Download or read book Anatomy of Failure written by Harlan Ullman and published by Naval Institute Press. This book was released on 2017-11-15 with total page 219 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why, since the end of World War II, has the United States either lost every war it started or failed in every military intervention it prosecuted? Harlan Ullman's new book answers this most disturbing question, a question Americans would never think of even asking because this record of failure has been largely hidden in plain sight or forgotten with the passage of time. The most straightforward answer is that presidents and administrations have consistently failed to use sound strategic thinking and lacked sufficient knowledge or understanding of the circumstances prior to deciding whether or not to employ force. Making this case is an in-depth analysis of the records of presidents from John F. Kennedy to Barack Obama and Donald Trump in using force or starting wars. His recommended solutions begin with a "brains-based" approach to sound strategic thinking to address one of the major causes of failure ----the inexperience of too many of the nation's commanders-in-chief. Ullman reinforces his argument through the use of autobiographical vignettes that provide a human dimension and insight into the reasons for failure, in some cases making public previously unknown history. The clarion call of Anatomy of Failure is that both a sound strategic framework and sufficient knowledge and understanding of the circumstance that may lead to using force are vital. Without them, failure is virtually guaranteed.

The Anatomy of Financial Crises

Author : Barry J. Eichengreen
Publisher :
ISBN 13 :
Total Pages : 104 pages
Book Rating : 4.X/5 (1 download)

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Book Synopsis The Anatomy of Financial Crises by : Barry J. Eichengreen

Download or read book The Anatomy of Financial Crises written by Barry J. Eichengreen and published by . This book was released on 1987 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: A financial crisis is a disturbance to financial markets. associated typically with falling asset prices and insolvency among debtors and intermediaries, which spreads through the financial system, disrupting the market’s capacity to allocate capital. In this paper we analyze the generation and propagation of financial crises in an international setting. We provide a perspective on the danger of a serious disruption to the global financial system by comparing the last full-fledged financial crisis - that of the 1930s - with conditions prevailing today. Our definition of a financial crisis implies a distinction between generalized financial crises on the one hand and isolated bank failures, debt defaults and foreign-exchange market disturbances on the other. We represent this distinction in three sets of linkages: between debt defaults; and between exchange-market disturbances and bank failures. In both the 1930s and 1980s, the institutional environment was drastically altered by rapid change in foreign exchange markets, in international capital markets, and in the structure of domestic banking systems. Our comparative analysis underscores the critical role played by institutional arrangements in financial markets as a determinant of the system's vulnerability to destabilizing shocks.

Wall Street and the Financial Crisis: Anatomy of a Financial Collapse (Majority and Minority Staff Report)

Author : United States Senate
Publisher : Lulu.com
ISBN 13 : 1304122212
Total Pages : 647 pages
Book Rating : 4.3/5 (41 download)

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Book Synopsis Wall Street and the Financial Crisis: Anatomy of a Financial Collapse (Majority and Minority Staff Report) by : United States Senate

Download or read book Wall Street and the Financial Crisis: Anatomy of a Financial Collapse (Majority and Minority Staff Report) written by United States Senate and published by Lulu.com. This book was released on 2013-06-10 with total page 647 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the fall of 2008, America suffered a devastating economic collapse. Once valuable securities lost most or all of their value, debt markets froze, stock markets plunged, and storied financial firms went under. Millions of Americans lost their jobs; millions of families lost their homes; and good businesses shut down. These events cast the United States into an economic recession so deep that the country has yet to fully recover. This Report is the product of a two-year bipartisan investigation by the U.S. Senate Permanent Subcommittee on Investigations into the origins of the 2008 financial crisis. The goals of this investigation were to construct a public record of the facts in order to deepen the understanding of what happened; identify some of the root causes of the crisis; and provide a factual foundation for the ongoing effort to fortify the country against the recurrence of a similar crisis in the future.

Anatomy of the Crash

Author : Tho Bishop
Publisher : Ludwig von Mises Institute
ISBN 13 : 1610167236
Total Pages : 165 pages
Book Rating : 4.6/5 (11 download)

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Book Synopsis Anatomy of the Crash by : Tho Bishop

Download or read book Anatomy of the Crash written by Tho Bishop and published by Ludwig von Mises Institute. This book was released on 2020-05-01 with total page 165 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Great Crash of 2020 was not caused by a virus. It was precipitated by the virus, and made worse by the crazed decision of governments around the world to shut down business and travel. But it was caused by economic fragility. The purpose of this collection is to highlight the important work of contemporary Austrian economists on the modern financial system. Although the mainstream financial press has been crediting American, European, and Chinese policymakers with upholding the global economy in the aftermath of 2008, Austrians have long been warning that these very same actions have only set the world up for a larger disaster. Promises in 2008 of the ease of normalizing monetary policy—such as by reducing balance sheets and phasing out market intervention—have been proven to be lies, just as Austrians warned. Authors Include: Ryan McMaken, Daniel Lacalle, Brendan Brown, Thorsten Polleit, Alasdair Macleod, Philipp Bagus, Ronald-Peter Stöferle, Mark J. Valek, Arkadiusz Sieroń, Ronald-Peter Stöferle, Jeff Deist, Joseph T. Salerno, and Claudio Grass.

Anatomy of a financial crisis

Author : Frederic Mishkin
Publisher :
ISBN 13 :
Total Pages : 24 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Anatomy of a financial crisis by : Frederic Mishkin

Download or read book Anatomy of a financial crisis written by Frederic Mishkin and published by . This book was released on 1991 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Mexico 1994

Author : Sebastian Edwards
Publisher :
ISBN 13 :
Total Pages : 344 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Mexico 1994 by : Sebastian Edwards

Download or read book Mexico 1994 written by Sebastian Edwards and published by . This book was released on 1997 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors are uniquely positioned to provide valuable insights on both the Mexican crisis and the metamorphosis in the nature of financial debacles.

What Caused the Financial Crisis

Author : Jeffrey Friedman
Publisher : University of Pennsylvania Press
ISBN 13 : 081220493X
Total Pages : 372 pages
Book Rating : 4.8/5 (122 download)

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Book Synopsis What Caused the Financial Crisis by : Jeffrey Friedman

Download or read book What Caused the Financial Crisis written by Jeffrey Friedman and published by University of Pennsylvania Press. This book was released on 2011-06-06 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: The deflation of the subprime mortgage bubble in 2006-7 is widely agreed to have been the immediate cause of the collapse of the financial sector in 2008. Consequently, one might think that uncovering the origins of subprime lending would make the root causes of the crisis obvious. That is essentially where public debate about the causes of the crisis began—and ended—in the month following the bankruptcy of Lehman Brothers and the 502-point fall in the Dow Jones Industrial Average in mid-September 2008. However, the subprime housing bubble is just one piece of the puzzle. Asset bubbles inflate and burst frequently, but severe worldwide recessions are rare. What was different this time? In What Caused the Financial Crisis leading economists and scholars delve into the major causes of the worst financial collapse since the Great Depression and, together, present a comprehensive picture of the factors that led to it. One essay examines the role of government regulation in expanding home ownership through mortgage subsidies for impoverished borrowers, encouraging the subprime housing bubble. Another explores how banks were able to securitize mortgages by manipulating criteria used for bond ratings. How this led to inaccurate risk assessments that could not be covered by sufficient capital reserves mandated under the Basel accords is made clear in a third essay. Other essays identify monetary policy in the United States and Europe, corporate pay structures, credit-default swaps, banks' leverage, and financial deregulation as possible causes of the crisis. With contributions from Richard A. Posner, Vernon L. Smith, Joseph E. Stiglitz, and John B. Taylor, among others, What Caused the Financial Crisis provides a cogent, comprehensive, and credible explanation of why the crisis happened. It will be an essential resource for scholars and students of finance, economics, history, law, political science, and sociology, as well as others interested in the financial crisis and the nature of modern capitalism and regulation.

The Handbook of the Political Economy of Financial Crises

Author : Martin H. Wolfson
Publisher : OUP USA
ISBN 13 : 0199757232
Total Pages : 785 pages
Book Rating : 4.1/5 (997 download)

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Book Synopsis The Handbook of the Political Economy of Financial Crises by : Martin H. Wolfson

Download or read book The Handbook of the Political Economy of Financial Crises written by Martin H. Wolfson and published by OUP USA. This book was released on 2013-02-21 with total page 785 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Great Financial Crisis that began in 2007-2008 reminds us with devastating force that financial instability and crises are endemic to capitalist economies. This Handbook describes the theoretical, institutional, and historical factors that can help us understand the forces that create financial crises.

Wall Street and the Financial Crisis

Author : Us Senate Subcommittee
Publisher :
ISBN 13 : 9781610010214
Total Pages : 400 pages
Book Rating : 4.0/5 (12 download)

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Book Synopsis Wall Street and the Financial Crisis by : Us Senate Subcommittee

Download or read book Wall Street and the Financial Crisis written by Us Senate Subcommittee and published by . This book was released on 2011 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Originally published by Government Printing Office, Washington DC, 2011."

The Asian Financial Crisis 1995–98

Author : Russell Napier
Publisher : Harriman House Limited
ISBN 13 : 0857199153
Total Pages : 259 pages
Book Rating : 4.8/5 (571 download)

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Book Synopsis The Asian Financial Crisis 1995–98 by : Russell Napier

Download or read book The Asian Financial Crisis 1995–98 written by Russell Napier and published by Harriman House Limited. This book was released on 2021-07-20 with total page 259 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the space of a few months, across Asia, a miracle became a nightmare. This was the Asian Financial Crisis of 1995–98. In this economic crisis hundreds of people died in rioting, political strong men were removed and hundreds of billions of dollars were lost by investors. This crisis saw the US dollar value of some Asian stock markets decline by ninety percent. Why did almost no one see it coming? The Asian Financial Crisis 1995–98 charts Russell Napier’s personal journey during that crisis as he wrote daily for institutional investors about an increasingly uncertain future. Relying on contemporaneous commentary, it charts the mistakes and successes of investors in the battle for investment survival in Asia from 1995–98. This is not just a guide for investors navigating financial markets, but also an explanation of how this crisis created the foundations of an age of debt that has changed the modern world.

Wall Street and the Financial Crisis: Anatomy of a Financial Collapse

Author :
Publisher : DIANE Publishing
ISBN 13 : 1437984673
Total Pages : 646 pages
Book Rating : 4.4/5 (379 download)

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Book Synopsis Wall Street and the Financial Crisis: Anatomy of a Financial Collapse by :

Download or read book Wall Street and the Financial Crisis: Anatomy of a Financial Collapse written by and published by DIANE Publishing. This book was released on 2011 with total page 646 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Financial Crises Explanations, Types, and Implications

Author : Mr.Stijn Claessens
Publisher : International Monetary Fund
ISBN 13 : 1475561008
Total Pages : 66 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis Financial Crises Explanations, Types, and Implications by : Mr.Stijn Claessens

Download or read book Financial Crises Explanations, Types, and Implications written by Mr.Stijn Claessens and published by International Monetary Fund. This book was released on 2013-01-30 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since many theories on the sources of financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper briefly reviews theoretical and empirical studies on developments in these markets around financial crises. Second, what are the major types of financial crises? The paper focuses on the main theoretical and empirical explanations of four types of financial crises—currency crises, sudden stops, debt crises, and banking crises—and presents a survey of the literature that attempts to identify these episodes. Third, what are the real and financial sector implications of crises? The paper briefly reviews the short- and medium-run implications of crises for the real economy and financial sector. It concludes with a summary of the main lessons from the literature and future research directions.