The Housing Boom and Bust

Thomas Sowell

ISBN 10: 1433294079 ISBN 13: 9781433294075

Publisher: Blackstone Audio, Inc., 2009

Synopsis

This is a plain-English explanation of how we got into the current economic disaster that developed out of the economics and politics of the housing boom and bust. The "creative" financing of home mortgages, and the even more "creative" marketing of financial securities based on these mortgages to countries around the world, are part of the story of how a financial house of cards was built up and then suddenly collapsed. The politics behind all this is another story full of strange twists. No punches are pulled when discussing politicians of either party, the financial dangers they created, or the distractions they created later to escape their own responsibility for what happened. Sowell unravels the tangled threads of the situation and explores the implications to reveal some surprising and sobering lessons.

About this title

About the Author:

Thomas Sowell has taught economics at Cornell, UCLA, Amherst, and other academic institutions, and his Basic Economics has been translated into six languages. He is currently a scholar-in-residence at the Hoover Institution, Stanford University. He has been published in both academic journals and such popular media as the Wall Street Journal, Forbes, and Fortune and writes a syndicated column that appears in newspapers across the country.

Review:

American Spectator
“An economic primer on the housing bubble, but more importantly, it is an examination of the ruling class's inability to leave well enough alone.”

Newsweek.com
“Sowell's account qualifies the standard story that greedy investment bankers and mortgage brokers caused the whole crisis.”

The Washington Times
“For anyone looking for a straightforward and honest discussion of the origins of our current crisis, informed by a deep understanding of both economics and politics, The Housing Boom and Bust is required reading.”

About this edition

• Publisher: Blackstone Audio, Inc.
• Publication date: 2009
• ISBN 10: 1433294079
• ISBN 13: 9781433294075
• Binding: Audio CD