The Fateful History Of Fannie Mae

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The Fateful History of Fannie Mae

Author : James R. Hagerty
Publisher : Arcadia Publishing
ISBN 13 : 1614236992
Total Pages : 241 pages
Book Rating : 4.6/5 (142 download)

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Book Synopsis The Fateful History of Fannie Mae by : James R. Hagerty

Download or read book The Fateful History of Fannie Mae written by James R. Hagerty and published by Arcadia Publishing. This book was released on 2012-09-04 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: “A lucid and meticulously reported book by one of the Wall Street Journal’s ace reporters” (George Anders, Forbes contributor and author of The Rare Find). In 1938, the administration of Franklin Delano Roosevelt created a small agency called Fannie Mae. Intended to make home loans more accessible, the agency was born of the Great Depression and a government desperate to revive housing construction. It was a minor detail of the New Deal, barely recorded by the newspapers of the day. Over the next seventy years, Fannie Mae evolved into one of the largest financial companies in the world, owned by private shareholders but with its nearly $1 trillion of debt effectively guaranteed by the government. Almost from the beginning, critics repeatedly warned that Fannie was an accident waiting to happen. Then, in 2008, the housing market collapsed. Amid a wave of foreclosures, the company’s capital began to run out, and the US Treasury seized control. From the New Deal to President Obama’s administration, James R. Hagerty explains this fascinating but little-understood saga. Based on the author’s reporting for the Wall Street Journal, personal research, and interviews with executives, regulators, and congressional leaders, The Fateful History of Fannie Mae, he explains the politics, economics, and human frailties behind seven decades of missed opportunities to prevent a financial disaster.

Days of Slaughter

Author : Susan Wharton Gates
Publisher : JHU Press
ISBN 13 : 1421421933
Total Pages : 301 pages
Book Rating : 4.4/5 (214 download)

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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 301 pages. Available in PDF, EPUB and Kindle. Book excerpt: With a keen eye to the policy landscape, Gates relates the fateful decisions that led to Freddie Mac's downfall and desperate rescue. She also examines today's worrisome headlines about potential future bailouts, the uneven housing recovery, and stymied congressional reform efforts. Throughout the book, Gates argues convincingly that policymakers will be unable to safely reform the massive housing finance system that currently rests squarely on taxpayer shoulders without addressing deeper issues of ideology, moral hazard, and interest group politics. The first book to tell the story of Freddie Mac from an insider perspective--while casting a prophetic eye to the future--this first-hand account of housing policies, complex financial transactions, and the crazy quilt of federal and state actors involved in the Great Recession is a must-read.

Building from the Ground Up

Author : Kevin Erdmann
Publisher : Post Hill Press
ISBN 13 : 1637581629
Total Pages : 235 pages
Book Rating : 4.6/5 (375 download)

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Book Synopsis Building from the Ground Up by : Kevin Erdmann

Download or read book Building from the Ground Up written by Kevin Erdmann and published by Post Hill Press. This book was released on 2022-01-11 with total page 235 pages. Available in PDF, EPUB and Kindle. Book excerpt: Remember when mania led to a massive housing bubble? When Americans found themselves saddled with too many houses and were hit with the reality that our economy had been built on unsustainable borrowing? Everyone knows about that, right? What if that was wrong? What if, when we get down to brass tacks, Americans have been struggling to build enough new housing—especially in places where housing is in high demand—and this was true, even in 2005? Viewing the economic calamities of the twenty-first century with this central insight turns the conventional wisdom about our economic challenges upside down. The need for more homes has been the core cause of American economic instability and stagnation. Building from the Ground Up will guide you to a sweeping new perspective about the Great Recession and the financial crisis, which points to a brighter path for America’s economic potential.

A History of Mortgage Banking in the West

Author : E. Michael Rosser
Publisher : University Press of Colorado
ISBN 13 : 160732623X
Total Pages : 407 pages
Book Rating : 4.6/5 (73 download)

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Book Synopsis A History of Mortgage Banking in the West by : E. Michael Rosser

Download or read book A History of Mortgage Banking in the West written by E. Michael Rosser and published by University Press of Colorado. This book was released on 2017-10-15 with total page 407 pages. Available in PDF, EPUB and Kindle. Book excerpt: Part economic history, part public history, A History of Mortgage Banking in the West is an insider’s account of how the mortgage banking sector worked over the last 150 years, including analysis of the causes of the 2007 mortgage crisis. Beginning with the land and railroad development acts that encouraged settlement in the west, E. Michael Rosser and Diane M. Sanders trace the laws, institutions, and individuals that contributed to the economic growth of the region. Using Colorado and the west as a case study for the nation’s economic and property development as a whole since the late nineteenth century, Rosser and Sanders explain how farm mortgages and agricultural lending steadily gave way to urban development and housing mortgages, all while the large mortgage and investment firms financed the development of some of the state’s most important water resources and railroad networks. Rosser uses his personal experience as a lifelong practitioner and educator of mortgage banking, along with a plethora of primary sources, academic archives, and industry publications, to analyze the causes of economic booms and busts as they relate to real estate and development. Rosser’s professional acumen combined with Sanders’s research experience makes A History of Mortgage Banking in the West a rich and nuanced account of the region’s most significant economic events. It will be an important work for scholars and practitioners in regional and financial history, mortgage market practice and development, government housing and mortgage policy, and financial stability and of great significance to anyone curious about the role of the federal government in national housing policy and the inherent risk in mortgages.

Lehman Brothers

Author : Oonagh McDonald
Publisher : Manchester University Press
ISBN 13 : 1526100509
Total Pages : 343 pages
Book Rating : 4.5/5 (261 download)

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Book Synopsis Lehman Brothers by : Oonagh McDonald

Download or read book Lehman Brothers written by Oonagh McDonald and published by Manchester University Press. This book was released on 2015-11-01 with total page 343 pages. Available in PDF, EPUB and Kindle. Book excerpt: This electronic version has been made available under a Creative Commons (BY-NC) open access license. Using extensive documentary evidence and interviews with former Lehman employees, Oonagh McDonald reveals the decisions that led to Lehman’s collapse, investigates why the government refused a bail-out and whether the implications of this refusal were fully understood. In clear and accessible language she demonstrates both the short and long term effects of Lehman’s collapse.

The Great American Housing Bubble

Author : Adam J. Levitin
Publisher : Harvard University Press
ISBN 13 : 0674246926
Total Pages : 401 pages
Book Rating : 4.6/5 (742 download)

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Book Synopsis The Great American Housing Bubble by : Adam J. Levitin

Download or read book The Great American Housing Bubble written by Adam J. Levitin and published by Harvard University Press. This book was released on 2020-06-09 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: The definitive account of the housing bubble that caused the Great Recession—and earned Wall Street fantastic profits. The American housing bubble of the 2000s caused the worst global financial crisis since the Great Depression. In this definitive account, Adam Levitin and Susan Wachter pinpoint its source: the shift in mortgage financing from securitization by Fannie Mae and Freddie Mac to “private-label securitization” by Wall Street banks. This change set off a race to the bottom in mortgage underwriting standards, as banks competed in laxity to gain market share. The Great American Housing Bubble tells the story of the transformation of mortgage lending from a dysfunctional, local affair, featuring short-term, interest-only “bullet” loans, to a robust, national market based around the thirty-year fixed-rate mortgage, a uniquely American innovation that served as the foundation for the middle class. Levitin and Wachter show how Fannie and Freddie’s market power kept risk in check until 2003, when mortgage financing shifted sharply to private-label securitization, as lenders looked for a way to sustain lending volume following an unprecedented refinancing wave. Private-label securitization brought a return of bullet loans, which had lower initial payments—enabling borrowers to borrow more—but much greater back-loaded risks. These loans produced a vast oversupply of underpriced mortgage finance that drove up home prices unsustainably. When the bubble burst, it set off a destructive downward spiral of home prices and foreclosures. Levitin and Wachter propose a rebuild of the housing finance system that ensures the widespread availability of the thirty-year fixed-rate mortgage, while preventing underwriting competition and shifting risk away from the public to private investors.

Broken Bargain

Author : Kathleen Day
Publisher : Yale University Press
ISBN 13 : 030024066X
Total Pages : 490 pages
Book Rating : 4.3/5 (2 download)

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Book Synopsis Broken Bargain by : Kathleen Day

Download or read book Broken Bargain written by Kathleen Day and published by Yale University Press. This book was released on 2019-01-08 with total page 490 pages. Available in PDF, EPUB and Kindle. Book excerpt: “A sweeping account of financial calamities . . . shows how often we’ve been wracked by crises, and how quickly we forget why, setting up the next one.” —Mark Zandi, Chief Economist, Moody’s Analytics In the 1930s, battered and humbled by the Great Depression, the U.S. financial sector struck a grand bargain with the federal government. Bankers gained a safety net in exchange for certain curbs on their freedom: transparency rules, record-keeping and antifraud measures, and fiduciary responsibilities. Despite subsequent periodic changes in these regulations, the underlying bargain played a major role in preserving the stability of the financial markets as well as the larger economy. By the free-market era of the 1980s and 90s, however, Wall Street argued that rules embodied in New Deal–era regulations to protect consumers, and ultimately taxpayers, were no longer needed—and government agreed. This clear, deeply researched history documents the country’s financial crises, focusing on those of the 1920s, the 1980s, and the 2000s, revealing how the two more recent crises arose from the neglect of this fundamental bargain, and how taxpayers have been left with the bill. “An engaging analysis . . . The section on the S & L crisis is excellent.” —Choice “A fluent if dispiriting study of an economic system that forgives those at the top so long as those at the bottom remain willing to foot the bill.” —Kirkus Reviews

Introduction to Housing

Author : Katrin B. Anacker
Publisher : University of Georgia Press
ISBN 13 : 0820349682
Total Pages : 497 pages
Book Rating : 4.8/5 (23 download)

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Book Synopsis Introduction to Housing by : Katrin B. Anacker

Download or read book Introduction to Housing written by Katrin B. Anacker and published by University of Georgia Press. This book was released on 2018 with total page 497 pages. Available in PDF, EPUB and Kindle. Book excerpt: This foundational text for understanding housing, housing design, homeownership, housing policy, special topics in housing, and housing in a global context has been comprehensively revised to reflect the changed housing situation in the United States during and after the Great Recession and its subsequent movements toward recovery. The book focuses on the complexities of housing and housing-related issues, engendering an understanding of housing, its relationship to national economic factors, and housing policies. It comprises individual chapters written by housing experts who have specialization within the discipline or field, offering commentary on the physical, social, psychological, economic, and policy issues that affect the current housing landscape in the United States and abroad, while proposing solutions to its challenges.

Regulation and the Credit Rating Agencies

Author : Daniel Cash
Publisher : Routledge
ISBN 13 : 1351107895
Total Pages : 170 pages
Book Rating : 4.3/5 (511 download)

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Book Synopsis Regulation and the Credit Rating Agencies by : Daniel Cash

Download or read book Regulation and the Credit Rating Agencies written by Daniel Cash and published by Routledge. This book was released on 2018-08-06 with total page 170 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the transgressions of the credit rating agencies before, during and after the recent financial crisis. It proposes that by restricting the agencies’ ability to offer ancillary services there stands the opportunity to limit, in an achievable and practical manner, the potentially negative effect that the Big Three rating agencies – Standard & Poor’s, Moody’s and Fitch – may have upon the financial sector and society moreover. The book contains an extensive and in-depth discussion about how the agencies ascended to their current position, why they were able to do so and ultimately their behaviour once their position was cemented. This work offers a new framework for the reader to follow, suggesting that investors, issuers and the state have a ‘desired’ version of the agencies in their thinking and operate upon that basis when, in fact, those imagined agencies do not exist, as demonstrated by the ‘actual’ conduct of the agencies. The book primarily aims to uncover this divergence and reveal the ‘real’ credit rating agencies, and then on that basis propose a real and potentially achievable reform to limit the negative effects that result from poor performance in this Industry. It addresses the topics with regard to financial regulation and the financial crisis, and will be of interest to legal scholars interested in the intersection between business and he law as well as researchers, academics, policymakers, industry and professional associations and students in the fields of corporate law, banking and finance law, financial regulation, corporate governance and corporate finance.

Housing in the United States

Author : Katrin B. Anacker
Publisher : Taylor & Francis
ISBN 13 : 1040011497
Total Pages : 146 pages
Book Rating : 4.0/5 (4 download)

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Book Synopsis Housing in the United States by : Katrin B. Anacker

Download or read book Housing in the United States written by Katrin B. Anacker and published by Taylor & Francis. This book was released on 2024-04-05 with total page 146 pages. Available in PDF, EPUB and Kindle. Book excerpt: Housing matters to people, be they owner, renter, housing provider, homeless individual, housing professional, or policymaker. Housing in the United States: The Basics offers an accessible introduction to key concepts and issues in housing—and a concise overview of the programs that affect housing choices, affordability, and access in the United States today. Part I covers the fundamentals of housing: households, housing units, and neighborhoods; housing as basic need vs. human right; supply and demand; construction, rehabilitation, and renovation; and demographic, socioeconomic, and cultural trends. Part II focuses on housing policy and its evolution from the early 20th century, through the Great Recession to the present day; policies related to owner- and renter-occupied housing; tax policies and expenditures; place- and people-based programs; and shortages of affordable housing. Written in a clear and engaging style, this guide allows readers to quickly grasp the complex range of policies, programs, and factors that shape the housing landscape. Essential reading for students, community advocates, homebuyers/renters, and professionals with an interest in housing, it also serves as an ideal text for introductory courses in urban planning, urban studies, sociology, public administration, architecture, and real estate. This book provides a valuable and practical foundation for informed housing discussions at the kitchen table, in the classroom, at work, or on Capitol Hill.

Constitutional Law: Cases, Materials, and Problems Fifth Edition, 2023 Case Supplement

Author : Russell L. Weaver
Publisher : Aspen Publishing
ISBN 13 :
Total Pages : 412 pages
Book Rating : 4.8/5 (89 download)

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Book Synopsis Constitutional Law: Cases, Materials, and Problems Fifth Edition, 2023 Case Supplement by : Russell L. Weaver

Download or read book Constitutional Law: Cases, Materials, and Problems Fifth Edition, 2023 Case Supplement written by Russell L. Weaver and published by Aspen Publishing. This book was released on 2023-10-17 with total page 412 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2023 Annual Supplement includes excerpts from recent scholarship and from important new decisions of the Supreme Court—including major cases on executive powers, equality, and free speech. The 2023 Supplement contains excerpts from cases decided during the October 2022 Term.

Fragile by Design

Author : Charles W. Calomiris
Publisher : Princeton University Press
ISBN 13 : 0691168350
Total Pages : 584 pages
Book Rating : 4.6/5 (911 download)

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Book Synopsis Fragile by Design by : Charles W. Calomiris

Download or read book Fragile by Design written by Charles W. Calomiris and published by Princeton University Press. This book was released on 2015-08-04 with total page 584 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why stable banking systems are so rare Why are banking systems unstable in so many countries—but not in others? The United States has had twelve systemic banking crises since 1840, while Canada has had none. The banking systems of Mexico and Brazil have not only been crisis prone but have provided miniscule amounts of credit to business enterprises and households. Analyzing the political and banking history of the United Kingdom, the United States, Canada, Mexico, and Brazil through several centuries, Fragile by Design demonstrates that chronic banking crises and scarce credit are not accidents. Calomiris and Haber combine political history and economics to examine how coalitions of politicians, bankers, and other interest groups form, why they endure, and how they generate policies that determine who gets to be a banker, who has access to credit, and who pays for bank bailouts and rescues. Fragile by Design is a revealing exploration of the ways that politics inevitably intrudes into bank regulation.

Planning in the USA

Author : Roger W. Caves
Publisher : Taylor & Francis
ISBN 13 : 1000905659
Total Pages : 1123 pages
Book Rating : 4.0/5 (9 download)

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Book Synopsis Planning in the USA by : Roger W. Caves

Download or read book Planning in the USA written by Roger W. Caves and published by Taylor & Francis. This book was released on 2023-08-29 with total page 1123 pages. Available in PDF, EPUB and Kindle. Book excerpt: Extensively revised and updated, Planning in the USA, fifth edition, continues to provide a comprehensive introduction to the policies, theory, and practice of planning. Outlining land use, urban planning, and environmental protection policies, this fully illustrated book explains the nature of the planning process and the way in which policy issues are identified, defined, and approached. The new edition incorporates new planning legislation and regulations at the state and federal layers of government and examples of local ordinances in a variety of planning areas. New material includes discussions of • education and equity in planning; • the City Beautiful Movement; • Daniel Burnham’s plan for Chicago; • segregation; • Knick v. Township of Scott; • reforming single-family zoning and regulatory challenges in zoning and land use; • Daniel Parolek’s ‘Missing Middle Housing’; • climate change, mitigation, adaptation, and resiliency; • the drinking water crisis in Flint, Michigan; • sharing programs for cars, bicycles, and scooters; • hybrid electric and autonomous vehicles; • Vision Zero; • COVID-19 relief for housing; • Innovation Districts, Promise Zones, and Opportunity Zones; • the sharing, gig, and creative economies; • scenic views and vistas, monuments, statues, and remembering the past; and • healthy cities, Health Impact Assessment, and active living. This detailed account of urbanization in the United States reveals the problematic nature and limitations of the planning process, the fallibility of experts, and the difficulties facing policy-makers in their search for solutions. Planning in the USA, fifth edition, is an essential book for students of urban planning, urban politics, environmental geography, and environment politics. It will be a valuable resource for planners and all who are concerned with the nature of contemporary urban and environmental problems.

A History of Mortgage Banking in the West

Author : E. Michael Rosser
Publisher : University Press of Colorado
ISBN 13 : 9781607328513
Total Pages : 0 pages
Book Rating : 4.3/5 (285 download)

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Book Synopsis A History of Mortgage Banking in the West by : E. Michael Rosser

Download or read book A History of Mortgage Banking in the West written by E. Michael Rosser and published by University Press of Colorado. This book was released on 2018-03-15 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Part economic history, part public history, A History of Mortgage Banking in the West is an insider’s account of how the mortgage banking sector worked over the last 150 years, including analysis of the causes of the 2007 mortgage crisis. Beginning with the land and railroad development acts that encouraged settlement in the west, E. Michael Rosser and Diane M. Sanders trace the laws, institutions, and individuals that contributed to the economic growth of the region. Using Colorado and the west as a case study for the nation’s economic and property development as a whole since the late nineteenth century, Rosser and Sanders explain how farm mortgages and agricultural lending steadily gave way to urban development and housing mortgages, all while the large mortgage and investment firms financed the development of some of the state’s most important water resources and railroad networks. Rosser uses his personal experience as a lifelong practitioner and educator of mortgage banking, along with a plethora of primary sources, academic archives, and industry publications, to analyze the causes of economic booms and busts as they relate to real estate and development. Rosser’s professional acumen combined with Sanders’s research experience makes A History of Mortgage Banking in the West a rich and nuanced account of the region’s most significant economic events. It will be an important work for scholars and practitioners in regional and financial history, mortgage market practice and development, government housing and mortgage policy, and financial stability and of great significance to anyone curious about the role of the federal government in national housing policy and the inherent risk in mortgages.

Yours Truly

Author : James R. Hagerty
Publisher : Citadel
ISBN 13 : 0806542071
Total Pages : 226 pages
Book Rating : 4.8/5 (65 download)

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Book Synopsis Yours Truly by : James R. Hagerty

Download or read book Yours Truly written by James R. Hagerty and published by Citadel. This book was released on 2022-12-27 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: In a surprisingly upbeat, heartfelt book about a serious subject, The Wall Street Journal’s veteran obituary writer, award-winning journalist James R. Hagerty, shares his unique skills with those who want to have the last word with flourish, honesty, and even humor. Whether in-brief for future newspapers and websites, or as a more complete mini-memoir for friends and family, Yours Truly is a guide to making sure your story is told the way you want – and how the process of preparing your own life story can help you live a better life. Someday, your life story is likely to be boiled down to a few lines. If you leave things to chance, your obituary is almost sure to be solemn, formulaic, and full of errors—an obligatory final chapter written in haste by others. James R. Hagerty, longtime obit writer for The Wall Street Journal, knows how to get the job done right: Do it yourself, starting now, while you still can. In this heartfelt and reassuring guide, Hagerty explains how to preserve your personal history—from crafting a brief obituary for newspapers and websites, to a more thoughtful and detailed mini-memoir for those close to you. Through his personal stories, on-the-job anecdotes, and insights, you will learn what to include, what to leave out, and how to provide historical context, record oral histories and make the most of details, all with candor and wit. Best of all, you’ll find that reviewing your life story helps you think about what you’re doing with your time on Earth and whether you’re on the right path. It isn’t too late to improve the narrative with a stronger ending. Telling your story your way can be the best gift you ever give to friends and loved ones—and yourself.

DC Confidential

Author : David Schoenbrod
Publisher : Encounter Books
ISBN 13 : 1594039127
Total Pages : 130 pages
Book Rating : 4.5/5 (94 download)

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Book Synopsis DC Confidential by : David Schoenbrod

Download or read book DC Confidential written by David Schoenbrod and published by Encounter Books. This book was released on 2017-03-07 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt: You think you know why our government in Washington is broken, but you really don't. You think it's broken because politicians curry favor with special interests and activists of the Left or Right. There's something to that and it helps explain why these politicians can't find common ground, but it misses the root cause. A half century ago, elected officials in Congress and the White House figured out a new system for enacting laws and spending programs--one that lets them take credit for promising good news while avoiding blame for government producing bad results. With five key tricks, politicians of both parties now avoid accounting to us for what government actually does to us. While you understand that these politicians seem to pull rabbits out of hats, hardly anyone sees the sleight of hand by which they get away with their tricks. Otherwise, their tricks wouldn't work. DC Confidential exposes the sleights of hand. Once they are brought to light, we can stop the tricks, fix our broken government, and make Washington work for us once again. The book explains the necessary reform and lays out an action plan to put it in place. Stopping the tricks would be a constructive, inclusive response to the anger that Americans from across the political spectrum feel toward what should be our government.

Yesterday's Man

Author : Branko Marcetic
Publisher : Verso Books
ISBN 13 : 1839760281
Total Pages : 289 pages
Book Rating : 4.8/5 (397 download)

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Book Synopsis Yesterday's Man by : Branko Marcetic

Download or read book Yesterday's Man written by Branko Marcetic and published by Verso Books. This book was released on 2020-01-29 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: A deep dive into Joe Biden’s history and the origins of his political values Yesterday’s Man exposes the forgotten history of Joe Biden, one of the United States’s longest-serving politicians, and one of its least scrutinized. Over nearly fifty years in politics, the man called “Middle-Class Joe” served as a key architect of the Democratic Party’s rightward turn, ushering in the end of the liberal New Deal order and enabling the political takeover of the radical right. Far from being a liberal stalwart, Biden often outdid even Reagan, Gingrich, and Bush, assisting the right-wing war against the working class, and ultimately paving the way for Trump. The most comprehensive political biography of someone who has tried for decades to be president, Yesterday’s Man is an essential read for anyone interested in knowing the real Joe Biden and what he might do in office.