Profiting From The Bank And Savings Loan Crisis
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| Author | : Financial Crisis Inquiry Commission |
| Publisher | : Cosimo, Inc. |
| Total Pages | : 692 |
| Release | : 2011-05-01 |
| Genre | : Political Science |
| ISBN | : 1616405414 |
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.
| Author | : Stephen Pizzo |
| Publisher | : Open Road Media |
| Total Pages | : 628 |
| Release | : 2015-09-29 |
| Genre | : Political Science |
| ISBN | : 1504019911 |
New York Times Bestseller: A history of the S&L scandal that caused a financial disaster for American taxpayers: “Hard to put down” (Library Journal). For most of the 20th century, savings and loans were an invaluable thread of the American economy. But in the 1970s, Congress passed sweeping financial deregulation at the insistence of industry insiders that allowed these once quaint and useful institutions to spread their taxpayer-insured assets into new and risky investments. The looser regulations and reduced federal oversight also opened the industry to an army of shady characters, white-collar criminals, and organized crime groups. Less than 10 years later, half the nation’s savings and loans were insolvent, leaving the American taxpayer on the hook for a large hunk of the nearly half a trillion dollars that had gone missing. The authors of Inside Job saw signs of danger long before the scandal hit nationwide. Decades after the savings and loan collapse, Inside Job remains a thrilling read and a sobering reminder that our financial institutions are more fragile than they appear.
| Author | : Kitty Calavita |
| Publisher | : Univ of California Press |
| Total Pages | : 284 |
| Release | : 1999-05-25 |
| Genre | : Business & Economics |
| ISBN | : 0520219473 |
An in-depth scrutiny into the American savings and loan financial crisis in the 1980s. The authors come to conclusions about the deliberate nature of this financial fraud and the leniency of the criminal justice system on these 'Gucci-clad white-collar criminals'.
| Author | : James E. O'Shea |
| Publisher | : Beyond Words/Atria Books |
| Total Pages | : 376 |
| Release | : 1991 |
| Genre | : Business & Economics |
| ISBN | : |
How did this country allow $250 billion to be stolen, squandered and finally sucked down the drain in a scandal that Newsweek has called "the biggest financial mess in U.S. history"? The definitive -- and uproariously entertaining -- answer lies in this prize-winning account of how the cleanest little savings & loan in Texas became the government's black hole -- once Big Bad Don Dixon rode into town.
| Author | : Neil Fligstein |
| Publisher | : Harvard University Press |
| Total Pages | : 334 |
| Release | : 2021-06-08 |
| Genre | : Business & Economics |
| ISBN | : 0674249356 |
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.
| Author | : National Commission on Financial Institution Reform, Recovery, and Enforcement (U.S.) |
| Publisher | : |
| Total Pages | : 122 |
| Release | : 1993 |
| Genre | : Business & Economics |
| ISBN | : |
| Author | : Kirsten Grind |
| Publisher | : Simon and Schuster |
| Total Pages | : 401 |
| Release | : 2013-07-16 |
| Genre | : Business & Economics |
| ISBN | : 1451617933 |
Based on reporting for which the author was named a finalist for the Pulitzer Prize and the Gerald Loeb Award, this book traces the rise and spectacular fall of Washington Mutual.
| Author | : |
| Publisher | : |
| Total Pages | : 594 |
| Release | : 1997 |
| Genre | : Biography & Autobiography |
| ISBN | : |
| Author | : |
| Publisher | : |
| Total Pages | : 38 |
| Release | : 2009 |
| Genre | : Banks and banking |
| ISBN | : |
| Author | : Sanjai Bhagat |
| Publisher | : Cambridge University Press |
| Total Pages | : 259 |
| Release | : 2017-03-10 |
| Genre | : Business & Economics |
| ISBN | : 1316764346 |
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.
