The mortgage meltdown: what went wrong and how do we fix it?
Owning a home can bestow a sense of security and independence. But today, in a cruel twist, many Americans now regard their homes as a source of worry and dashed expectations. How did everything go haywire? And what can we do about it now?
In The Rise and Fall of the U.S. Mortgage and Credit Markets, renowned finance expert James Barth offers a comprehensive examination of the mortgage meltdown. Together with a team of economists at the Milken Institute, he explores the shock waves that have rippled through the entire financial sector and the real economy. Deploying an incredibly detailed and extensive set of data, the book offers in-depth analysis of the mortgage meltdown and the resulting worldwide financial crisis. This authoritative volume explores what went wrong in every critical area, including securitization, loan origination practices, regulation and supervision, Fannie Mae and Freddie Mac, leverage and accounting practices, and of course, the rating agencies. The authors explain the steps the government has taken to address the crisis thus far, arguing that we have yet to address the larger issues.
The Rise and Fall of the U.S. Mortgage and Credit Markets analyzes the factors that should drive reform and explores the issues that policymakers must confront in any future reshaping of financial market regulations.
"synopsis" may belong to another edition of this title.
For decades, the home mortgage market successfully extended credit to more and more families, enabling millions of Americans to own their own homes. In recent years, however, it became ever more apparent that credit was expanding too rapidly and too many market participants were becoming dangerously leveraged. What began as healthy growth in mortgage originations and housing starts swiftly became a home price bubble. When home prices did come plunging back to earth, the damage quickly spread far beyond the scope of the actual mortgage defaults and foreclosures. Even solid companies with no connection to the real estate and finance sectors were affected as credit markets seized up. How did this happen—and what can we do about it now?
In The Rise and Fall of the U.S. Mortgage and Credit Markets, James Barth, with the assistance of his colleagues at the Milken Institute, analyzes in detail the mortgage meltdown and the resulting worldwide financial crisis. He explains how Main Street and Wall Street alike took on too much risk and too much debt in their quest for gains, setting the crisis in motion.
In straightforward terms, he tells what subprime mortgages are, who subprime borrowers are, and how securitization—packaging loans into complex securities and selling them in the secondary market—expanded the mortgage market, but also opened the door to a shifting of risk. Barth also assesses what went wrong in every other critical area, including loan origination practices, regulation and supervision, Fannie Mae and Freddie Mac, leverage and accounting practices, and, of course, the rating agencies.
The author explains the steps the government has taken thus far and suggests that those actions have been piecemeal—and largely reactive, rather than proactive. He argues that we have yet to address the bigger and more long-term issue of how to reform the structure of regulation and supervision to prevent a similar crisis from happening again. Barth also offers his own thoughts on the factors that should drive reform and explores several important issues that policymakers must address in any future reshaping of financial market regulations.
JAMES R. BARTH is a Senior Fellow at the Milken Institute and the Lowder Eminent Scholar in Finance at Auburn University. His research focuses on financial institutions and capital markets, both domestic and global, with special emphasis on regulatory issues. Barth was an appointee of Presidents Ronald Reagan and George H.W. Bush as chief economist of the Federal Home Loan Bank Board and later of the Office of Thrift Supervision. He has authored more than 200 articles in professional journals and has written and edited several books, including The Great Savings and Loan Debacle, The Reform of Federal Deposit Insurance, and Rethinking Bank Regulation: Till Angels Govern. Barth has been quoted in publications ranging from the New York Times to the Wall Street Journal and has appeared on broadcast programs including The McNeil/Lehrer NewsHour, Good Morning America, Moneyline, and CNBC's Closing Bell.
"About this title" may belong to another edition of this title.
Shipping:
FREE
Within U.S.A.
Shipping:
US$ 3.50
Within U.S.A.
Book Description Condition: Very Good. Former library book; may include library markings. Used book that is in excellent condition. May show signs of wear or have minor defects. Seller Inventory # 10173835-75
Book Description Condition: Good. Former library book; may include library markings. Used book that is in clean, average condition without any missing pages. Seller Inventory # 4710772-6
Book Description Condition: Good. Used book that is in clean, average condition without any missing pages. Seller Inventory # 6356093-6
Book Description Condition: Very Good. Former library book; may include library markings. Used book that is in excellent condition. May show signs of wear or have minor defects. Seller Inventory # 10173835-75
Book Description Condition: Good. SHIPS FROM USA. Used books have different signs of use and do not include supplemental materials such as CDs, Dvds, Access Codes, charts or any other extra material. All used books might have various degrees of writing, highliting and wear and tear and possibly be an ex-library with the usual stickers and stamps. Dust Jackets are not guaranteed and when still present, they will have various degrees of tear and damage. All images are Stock Photos, not of the actual item. book. Seller Inventory # 11-0470477245-G
Book Description Hardcover. Condition: Fair. No Jacket. Readable copy. Pages may have considerable notes/highlighting. ~ ThriftBooks: Read More, Spend Less 1.8. Seller Inventory # G0470477245I5N00
Book Description Hardcover. Condition: Good. 1. The mortgage meltdown: what went wrong and how do we fix it?Owning a home can bestow a sense of security and independence. But today, in a cruel twist, many Americans now regard their homes as a source of worry and dashed expectations. How did everything go haywire? And what can we do about it now?In The Rise and Fall of the U.S. Mortgage and Credit Markets, renowned finance expert James Barth offers a comprehensive examination of the mortgage meltdown. Together with a team of economists at the Milken Institute, he explores the shock waves that have rippled through the entire financial sector and the real economy. Deploying an incredibly detailed and extensive set of data, the book offers in-depth analysis of the mortgage meltdown and the resulting worldwide financial crisis. This authoritative volume explores what went wrong in every critical area, including securitization, loan origination practices, regulation and supervision, Fannie Mae and Freddie Mac, leverage and accounting practices, and of course, the rating agencies. The authors explain the steps the government has taken to address the crisis thus far, arguing that we have yet to address the larger issues. Offers a comprehensive examination of the mortgage market meltdown and its reverberations throughout the financial sector and the real economy Explores several important issues that policymakers must address in any future reshaping of financial market regulations Addresses how we can begin to move forward and prevent similar crises from shaking the foundations of our financial systemThe Rise and Fall of the U.S. Mortgage and Credit Markets analyzes the factors that should drive reform and explores the issues that policymakers must confront in any future reshaping of financial market regulations. Seller Inventory # SONG0470477245
Book Description Hardcover. Condition: new. New. Seller Inventory # Wizard0470477245
Book Description Condition: Good. Good condition. This is the average used book, that has all pages or leaves present, but may include writing. Book may be ex-library with stamps and stickers. 1.8. Seller Inventory # 353-0470477245-gdd
Book Description Condition: Very Good. Very Good condition. Shows only minor signs of wear, and very minimal markings inside (if any). 1.8. Seller Inventory # 353-0470477245-vrg