Guaranteed to Fail

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Author :
Publisher : Princeton University Press
ISBN 13 : 1400838096
Total Pages : 233 pages
Book Rating : 4.4/5 (8 download)

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Book Synopsis Guaranteed to Fail by : Viral V. Acharya

Download or read book Guaranteed to Fail written by Viral V. Acharya and published by Princeton University Press. This book was released on 2011-03-14 with total page 233 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why America's public-private mortgage giants threaten the world economy—and what to do about it The financial collapse of Fannie Mae and Freddie Mac in 2008 led to one of the most sweeping government interventions in private financial markets in history. The bailout has already cost American taxpayers close to $150 billion, and substantially more will be needed. The U.S. economy--and by extension, the global financial system--has a lot riding on Fannie and Freddie. They cannot fail, yet that is precisely what these mortgage giants are guaranteed to do. How can we limit the damage to our economy, and avoid making the same mistakes in the future? Guaranteed to Fail explains how poorly designed government guarantees for Fannie Mae and Freddie Mac led to the debacle of mortgage finance in the United States, weighs different reform proposals, and provides sensible, practical recommendations. Despite repeated calls for tougher action, Washington has expanded the scope of its guarantees to Fannie and Freddie, fueling more and more housing and mortgages all across the economy--and putting all of us at risk. This book unravels the dizzyingly immense, highly interconnected businesses of Fannie and Freddie. It proposes a unique model of reform that emphasizes public-private partnership, one that can serve as a blueprint for better organizing and managing government-sponsored enterprises like Fannie Mae and Freddie Mac. In doing so, Guaranteed to Fail strikes a cautionary note about excessive government intervention in markets.

Fannie Mae and Freddie Mac

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Author :
Publisher : A&C Black
ISBN 13 : 1780935234
Total Pages : 494 pages
Book Rating : 4.7/5 (89 download)

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Book Synopsis Fannie Mae and Freddie Mac by : Oonagh McDonald

Download or read book Fannie Mae and Freddie Mac written by Oonagh McDonald and published by A&C Black. This book was released on 2013-07-18 with total page 494 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book demonstrates how politicians and federal agencies dominated Fannie Mae and Freddie Mac and took just thirteen years to wreck the American dream of home ownership.

The Role of Fannie Mae and Freddie Mac in the Financial Crisis

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Author :
Publisher :
ISBN 13 : 9781704117461
Total Pages : 360 pages
Book Rating : 4.1/5 (174 download)

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Book Synopsis The Role of Fannie Mae and Freddie Mac in the Financial Crisis by : United States House of Representatives

Download or read book The Role of Fannie Mae and Freddie Mac in the Financial Crisis written by United States House of Representatives and published by . This book was released on 2019-10-31 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: The role of Fannie Mae and Freddie Mac in the financial crisis: hearing before the Committee on Oversight and Government Reform, House of Representatives, One Hundred Tenth Congress, second session, December 9, 2008.

The Role of Fannie Mae and Freddie Mac in the Financial Crisis

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Author :
Publisher :
ISBN 13 :
Total Pages : 360 pages
Book Rating : 4.:/5 (327 download)

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Book Synopsis The Role of Fannie Mae and Freddie Mac in the Financial Crisis by : United States. Congress. House. Committee on Oversight and Government Reform

Download or read book The Role of Fannie Mae and Freddie Mac in the Financial Crisis written by United States. Congress. House. Committee on Oversight and Government Reform and published by . This book was released on 2009 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Role of Fannie Mae and Freddie Mac in the Financial Crisis

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Author :
Publisher : Createspace Independent Publishing Platform
ISBN 13 : 9781983764042
Total Pages : 360 pages
Book Rating : 4.7/5 (64 download)

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Book Synopsis The Role of Fannie Mae and Freddie Mac in the Financial Crisis by : United States. Congress

Download or read book The Role of Fannie Mae and Freddie Mac in the Financial Crisis written by United States. Congress and published by Createspace Independent Publishing Platform. This book was released on 2018-01-12 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: The role of Fannie Mae and Freddie Mac in the financial crisis : hearing before the Committee on Oversight and Government Reform, House of Representatives, One Hundred Tenth Congress, second session, December 9, 2008.

Guaranteed To Fail : Fannie Mae, Freddie Mac And The Debacle Of Mortgage Finance

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Author :
Publisher : HarperCollins
ISBN 13 : 9789350290651
Total Pages : 0 pages
Book Rating : 4.2/5 (96 download)

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Book Synopsis Guaranteed To Fail : Fannie Mae, Freddie Mac And The Debacle Of Mortgage Finance by : Viral V Acharya

Download or read book Guaranteed To Fail : Fannie Mae, Freddie Mac And The Debacle Of Mortgage Finance written by Viral V Acharya and published by HarperCollins. This book was released on 2011-05-19 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: '... a comprehensive and well-written study of the role played by Fannie and Freddie in the events leading up to the financial crisis [of 2008] ... This book is timely as well as insightful, and will be an influential contribution to the debate on the role of government-sponsored enterprises.'- Raghuram G. Rajan, author of Fault Lines: How Hidden Fractures Still Threaten the World Economy The financial collapse of Fannie Mae and Freddie Mac in 2008 led to one of the most sweeping government interventions in private financial markets in history. The bailout has already cost American taxpayers close to $150 billion, and substantially more will be needed. The U.S. economy - and by extension, the global financial system - has a lot riding on Fannie and Freddie. They cannot fail, yet that is precisely what these mortgage giants are guaranteed to do. How can we limit the damage and avoid making the same mistakes in the future? Guaranteed to Fail explains how poorly designed government guarantees for Fannie Mae and Freddie Mac led to the debacle of mortgage finance in the United States, weighs different reform proposals, and provides sensible, practical recommendations. Despite repeated calls for tougher action, Washington has expanded the scope of its guarantees to Fannie and Freddie, fuelling more and more housing and mortgages all across the economy. This book unravels the dizzyingly immense, highly interconnected businesses of Fannie and Freddie. It proposes a unique model of reform that emphasizes public-private partnership, one that can serve as a blueprint for better organizing and managing government-sponsored enterprises like Fannie Mae and Freddie Mac. In doing so, Guaranteed to Fail strikes a cautionary note about excessive government intervention in markets. It is a note that is as relevant in India and this special edition includes a chapter on government-sponsored enterprises which, in the light of what happened to UTI's flagship scheme US-64, shows the possible repercussions of such interventions.

The Financial Crisis Inquiry Report

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Author :
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.

Days of Slaughter

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Author :
Publisher : JHU Press
ISBN 13 : 1421421941
Total Pages : 304 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 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.

Fannie Mae, Freddie Mac, and the Federal Role in the Secondary Mortgage Market

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Author :
Publisher : DIANE Publishing
ISBN 13 : 1437944574
Total Pages : 77 pages
Book Rating : 4.4/5 (379 download)

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Book Synopsis Fannie Mae, Freddie Mac, and the Federal Role in the Secondary Mortgage Market by : Deborah Lucas

Download or read book Fannie Mae, Freddie Mac, and the Federal Role in the Secondary Mortgage Market written by Deborah Lucas and published by DIANE Publishing. This book was released on 2011-05 with total page 77 pages. Available in PDF, EPUB and Kindle. Book excerpt: In September 2008, the fed. gov¿t. assumed control of Fannie Mae and Freddie Mac (FM/FM), two federally chartered institutions that last year guaranteed three-quarters of new residential mortgages originated in the U.S. This study examines various alternatives for the fed. gov¿t¿s. future role in the secondary (resale) market for residential mortgages. Contents: Overview of FM/FM, and the Secondary Mortgage Market; Possible Rationales for a Fed. Role in the Secondary Mortgage Market; Weaknesses of the Pre-crisis Model for FM/FM; Alternative Approaches for the Future of the Secondary Mortgage Market; History of the Secondary Mortgage Market; The Fed. Home Loan Banks. Charts and tables. A print on demand report.

The Fateful History of Fannie Mae

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Author :
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.

Shaky Ground

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Author :
Publisher :
ISBN 13 : 9780990976301
Total Pages : 159 pages
Book Rating : 4.9/5 (763 download)

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Book Synopsis Shaky Ground by : Bethany McLean

Download or read book Shaky Ground written by Bethany McLean and published by . This book was released on 2015 with total page 159 pages. Available in PDF, EPUB and Kindle. Book excerpt: In a way, the situation is ironic: housing was at the root of the financial crisis, and six years after the meltdown, housing finance is still the greatest unsolved issue. The U.S. housing market is roughly $10 trillion, making it one of the largest segments of the bond market. Roughly 70 percent of the American population has a mortgage, and for most people, the mortgage is the most important financial instrument in their lives. But until the financial crisis, few people knew the essential role that Fannie Mae and Freddie Mac play in their mortgages. Given the $188 billion government bailout of the two firms the most expensive bailout in history the politics surrounding housing are worse than they've ever been, and the two gigantic firms sit in limbo. Best-selling investigative journalist Bethany McLean, the coauthor of The Smartest Guys in the Room andAll the Devils Are Here, explains why the situation is dangerous and unsustainable, and proposes a few solutions from the perfect, but politically unfeasible to the doable, but ugly.

Fannie Mae, Freddie Mac, and the Federal Role in the Secondary Mortgage Market

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Author :
Publisher : United States Congress
ISBN 13 :
Total Pages : 80 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Fannie Mae, Freddie Mac, and the Federal Role in the Secondary Mortgage Market by : Deborah Lucas

Download or read book Fannie Mae, Freddie Mac, and the Federal Role in the Secondary Mortgage Market written by Deborah Lucas and published by United States Congress. This book was released on 2010 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Housing and the Financial Crisis

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Author :
Publisher : University of Chicago Press
ISBN 13 : 022603061X
Total Pages : 443 pages
Book Rating : 4.2/5 (26 download)

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Book Synopsis Housing and the Financial Crisis by : Edward L. Glaeser

Download or read book Housing and the Financial Crisis written by Edward L. Glaeser and published by University of Chicago Press. This book was released on 2013-08-19 with total page 443 pages. Available in PDF, EPUB and Kindle. Book excerpt: Conventional wisdom held that housing prices couldn’t fall. But the spectacular boom and bust of the housing market during the first decade of the twenty-first century and millions of foreclosed homeowners have made it clear that housing is no different from any other asset in its ability to climb and crash. Housing and the Financial Crisis looks at what happened to prices and construction both during and after the housing boom in different parts of the American housing market, accounting for why certain areas experienced less volatility than others. It then examines the causes of the boom and bust, including the availability of credit, the perceived risk reduction due to the securitization of mortgages, and the increase in lending from foreign sources. Finally, it examines a range of policies that might address some of the sources of recent instability.

Hidden in Plain Sight

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Author :
Publisher : Encounter Books
ISBN 13 : 159403866X
Total Pages : 432 pages
Book Rating : 4.5/5 (94 download)

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Book Synopsis Hidden in Plain Sight by : Peter J. Wallison

Download or read book Hidden in Plain Sight written by Peter J. Wallison and published by Encounter Books. This book was released on 2016-03-29 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2008 financial crisis—like the Great Depression—was a world-historical event. What caused it will be debated for years, if not generations. The conventional narrative is that the financial crisis was caused by Wall Street greed and insufficient regulation of the financial system. That narrative produced the Dodd-Frank Act, the most comprehensive financial-system regulation since the New Deal. There is evidence, however, that the Dodd-Frank Act has slowed the recovery from the recession. If insufficient regulation caused the financial crisis, then the Dodd-Frank Act will never be modified or repealed; proponents will argue that doing so will cause another crisis. A competing narrative about what caused the financial crisis has received little attention. This view, which is accepted by almost all Republicans in Congress and most conservatives, contends that the crisis was caused by government housing policies. This book extensively documents this view. For example, it shows that in June 2008, before the crisis, 58 percent of all US mortgages were subprime or other low-quality mortgages. Of these, 76 percent were on the books of government agencies such as Fannie Mae and Freddie Mac. When these mortgages defaulted in 2007 and 2008, they drove down housing prices and weakened banks and other mortgage holders, causing the crisis. After this book is published, no one will be able to claim that the financial crisis was caused by insufficient regulation, or defend Dodd-Frank, without coming to terms with the data this book contains.

Financial Crisis, Corporate Governance, and Bank Capital

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Author :
Publisher : Cambridge University Press
ISBN 13 : 1316764346
Total Pages : 259 pages
Book Rating : 4.3/5 (167 download)

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Book Synopsis Financial Crisis, Corporate Governance, and Bank Capital by : Sanjai Bhagat

Download or read book Financial Crisis, Corporate Governance, and Bank Capital written by Sanjai Bhagat and published by Cambridge University Press. This book was released on 2017-03-10 with total page 259 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the aftermath of the 2007–8 crisis, senior policymakers and the media have blamed excessive risk-taking undertaken by bank executives, in response to their compensation incentives, for the crisis. The inevitable follow-up to this was to introduce stronger financial regulation, in the hope that better and more ethical behaviour can be induced. Despite the honourable intentions of regulation, such as the Dodd–Frank Act of 2010, it is clear that many big banks are still deemed too big to fail. This book argues that by restructuring executive incentive programmes to include only restricted stock and restricted stock options with very long vesting periods, and financing banks with considerably more equity, the potential of future financial crises can be minimized. It will be of great value to corporate executives, corporate board members, institutional investors and economic policymakers, as well as graduate and undergraduate students studying finance, economics and law.

The Rescue and Repair of Fannie Mae and Freddie Mac

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Author :
Publisher :
ISBN 13 : 9781606927908
Total Pages : 0 pages
Book Rating : 4.9/5 (279 download)

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Book Synopsis The Rescue and Repair of Fannie Mae and Freddie Mac by :

Download or read book The Rescue and Repair of Fannie Mae and Freddie Mac written by and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the midst of the most serious financial crisis in a generation, some claim that deregulation is entirely to blame. This is simply not true, and more importantly serves to grossly oversimplify a problem whose roots run deep and involve myriad actors and issues. The simple truth is that many share the blame, and pointing to just one person or organisation does a disservice to the American people. In a time of crisis, the American people cannot afford the same old partisan finger pointing; they need and deserve real, non-partisan oversight. We need to focus on the root causes and how we can fix the system in order to avoid financial meltdowns in the future. This book explores the causes of the financial crisis we are in and how various agencies contributed to this crisis.

Privatizing Fannie Mae, Freddie Mac, and the Federal Home Loan Banks

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Author :
Publisher : American Enterprise Institute
ISBN 13 : 9780844741901
Total Pages : 128 pages
Book Rating : 4.7/5 (419 download)

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Book Synopsis Privatizing Fannie Mae, Freddie Mac, and the Federal Home Loan Banks by : Peter J. Wallison

Download or read book Privatizing Fannie Mae, Freddie Mac, and the Federal Home Loan Banks written by Peter J. Wallison and published by American Enterprise Institute. This book was released on 2004 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book argues that privatization of the government-sponsored enterprises is the only viable way to protect the taxpayers and the economy.