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The Resource Hidden in plain sight : what really caused the world's worst financial crisis and why it could happen again, Peter J. Wallison

Hidden in plain sight : what really caused the world's worst financial crisis and why it could happen again, Peter J. Wallison

Creator
Summary
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 If insufficient regulation caused the financial crisis, then the Dodd-Frank Act will never be modified or repealed; proponents will argue that doing so will cause another crisis
Language
eng
Work
Publication
Edition
First paperback edition.
Extent
xviii, 411 pages
Note
  • With new preface
  • "First American edition published in 2015 by Encounter Books"--Title-page verso
Contents
  • Part I. The basics. Introduction : what really caused the world's worst financial crisis and why it could happen again
  • The difference between prime and nontraditional mortgages : the importance of sound underwriting standards
  • The financial crisis inquiry commission report an other explanations for the crisis : why conventional explanations for the crisis are inadequate
  • A short history of housing finance in the U.S. : how and why housing finance was substantially changed in 1992
  • Part II. Government housing policies take effect. HUD's central role : how HUD used the Affordable-Housing goals to reduce underwriting standards
  • The decline in underwriting standards : how the Affordable-Housing goals forced an increase in nontraditional mortgages
  • Force fed : why the Affordable-housing goals, and not market share or profit, were the sole reason the GSEs acquired nontraditional mortgages
  • Going viral : why and how reduced underwriting standards spread to the wider market
  • Part III. The financial crisis and its accelerants. The great housing price bubble : how loosened underwriting standards stimulated its growth
  • Flying blind into a storm : how the GSEs' failure to disclose their acquisition of nontraditional mortgages magnified the crisis
  • 31 million nontraditional mortgages precipitate a crisis : why even government-backed mortgage securities were contributors
  • Fair-value accounting scales up the crisis : how mark-to-market accounting made financial firms look weak or unstable
  • Part IV. From bad to worse. From bad to worse : how government blunders turned a mortgage meltdown into an investor panic and financial crisis
  • The false narrative and the future : why the failure to understand the causes of the crisis may lead to another
Isbn
9781594038655
Instance
Label
Hidden in plain sight : what really caused the world's worst financial crisis and why it could happen again
Title
Hidden in plain sight
Title remainder
what really caused the world's worst financial crisis and why it could happen again
Statement of responsibility
Peter J. Wallison
Creator
Subject
Language
eng
Summary
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
Cataloging source
YDXCP
http://library.link/vocab/creatorName
Wallison, Peter J
Illustrations
illustrations
Index
index present
Literary form
non fiction
Nature of contents
bibliography
http://library.link/vocab/subjectName
  • Housing
  • Mortgage loans
  • Subprime mortgage loans
  • Financial crises
  • Global Financial Crisis, 2008-2009
  • United States
Label
Hidden in plain sight : what really caused the world's worst financial crisis and why it could happen again, Peter J. Wallison
Instantiates
Publication
Note
  • With new preface
  • "First American edition published in 2015 by Encounter Books"--Title-page verso
Bar code
  • 31223116657314
  • 31223116657306
Bibliography note
Includes bibliographical references (pages 363-392) and index
Carrier category
volume
Carrier category code
  • nc
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
Part I. The basics. Introduction : what really caused the world's worst financial crisis and why it could happen again -- The difference between prime and nontraditional mortgages : the importance of sound underwriting standards -- The financial crisis inquiry commission report an other explanations for the crisis : why conventional explanations for the crisis are inadequate -- A short history of housing finance in the U.S. : how and why housing finance was substantially changed in 1992 -- Part II. Government housing policies take effect. HUD's central role : how HUD used the Affordable-Housing goals to reduce underwriting standards -- The decline in underwriting standards : how the Affordable-Housing goals forced an increase in nontraditional mortgages -- Force fed : why the Affordable-housing goals, and not market share or profit, were the sole reason the GSEs acquired nontraditional mortgages -- Going viral : why and how reduced underwriting standards spread to the wider market -- Part III. The financial crisis and its accelerants. The great housing price bubble : how loosened underwriting standards stimulated its growth -- Flying blind into a storm : how the GSEs' failure to disclose their acquisition of nontraditional mortgages magnified the crisis -- 31 million nontraditional mortgages precipitate a crisis : why even government-backed mortgage securities were contributors -- Fair-value accounting scales up the crisis : how mark-to-market accounting made financial firms look weak or unstable -- Part IV. From bad to worse. From bad to worse : how government blunders turned a mortgage meltdown into an investor panic and financial crisis -- The false narrative and the future : why the failure to understand the causes of the crisis may lead to another
Dimensions
23 cm
Edition
First paperback edition.
Extent
xviii, 411 pages
Isbn
9781594038655
Isbn Type
(paperback)
Media category
unmediated
Media MARC source
rdamedia
Media type code
  • n
Other physical details
illustrations
System control number
  • 921917735
  • 921917735
  • (OCoLC)921917735
Label
Hidden in plain sight : what really caused the world's worst financial crisis and why it could happen again, Peter J. Wallison
Publication
Note
  • With new preface
  • "First American edition published in 2015 by Encounter Books"--Title-page verso
Bar code
  • 31223116657314
  • 31223116657306
Bibliography note
Includes bibliographical references (pages 363-392) and index
Carrier category
volume
Carrier category code
  • nc
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
Part I. The basics. Introduction : what really caused the world's worst financial crisis and why it could happen again -- The difference between prime and nontraditional mortgages : the importance of sound underwriting standards -- The financial crisis inquiry commission report an other explanations for the crisis : why conventional explanations for the crisis are inadequate -- A short history of housing finance in the U.S. : how and why housing finance was substantially changed in 1992 -- Part II. Government housing policies take effect. HUD's central role : how HUD used the Affordable-Housing goals to reduce underwriting standards -- The decline in underwriting standards : how the Affordable-Housing goals forced an increase in nontraditional mortgages -- Force fed : why the Affordable-housing goals, and not market share or profit, were the sole reason the GSEs acquired nontraditional mortgages -- Going viral : why and how reduced underwriting standards spread to the wider market -- Part III. The financial crisis and its accelerants. The great housing price bubble : how loosened underwriting standards stimulated its growth -- Flying blind into a storm : how the GSEs' failure to disclose their acquisition of nontraditional mortgages magnified the crisis -- 31 million nontraditional mortgages precipitate a crisis : why even government-backed mortgage securities were contributors -- Fair-value accounting scales up the crisis : how mark-to-market accounting made financial firms look weak or unstable -- Part IV. From bad to worse. From bad to worse : how government blunders turned a mortgage meltdown into an investor panic and financial crisis -- The false narrative and the future : why the failure to understand the causes of the crisis may lead to another
Dimensions
23 cm
Edition
First paperback edition.
Extent
xviii, 411 pages
Isbn
9781594038655
Isbn Type
(paperback)
Media category
unmediated
Media MARC source
rdamedia
Media type code
  • n
Other physical details
illustrations
System control number
  • 921917735
  • 921917735
  • (OCoLC)921917735

Subject

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