Chain of Blame: How Wall Street Caused the Mortgage and Credit Crisis

3.64 avg rating
( 110 ratings by Goodreads )
 
9780470554654: Chain of Blame: How Wall Street Caused the Mortgage and Credit Crisis
View all copies of this ISBN edition:
 
 

An updated and revised look at the truth behind America'shousing and mortgage bubbles

In the summer of 2007, the subprime empire that Wall Street hadbuilt all came crashing down. On average, fifty lenders a monthwere going bust-and the people responsible for the crisis includednot just unregulated loan brokers and con artists, but alsoinvestment bankers and home loan institutions traditionallyperceived as completely trustworthy.

Chain of Blame chronicles this incredible disaster, witha specific focus on the players who participated in such afundamentally flawed fiasco. In it, authors Paul Muolo and MathewPadilla reveal the truth behind how this crisis occurred, includingwhat individuals and institutions were doing during this criticaltime, and who is ultimately responsible for what happened.

  • Discusses the latest revelations in the housing and mortgagecrisis, including the SEC's charging of Angelo Mozilo
  • Two well-regarded financial journalists familiar with theevents that have taken place chronicle the crisis in detail,showing what happened as well as what lies ahead
  • Discusses how the world's largest investment banks, homeowners,lenders, credit rating agencies, underwriters, and investors allbecame entangled in the subprime mess

Intriguing and informative, Chain of Blame is acompelling story of greed and avarice, one in which many areresponsible, but few are willing to admit their mistakes.

"synopsis" may belong to another edition of this title.

From the Inside Flap:

Americans are losing their homes at a rate not seen since the Great Depression. Prices continue to fall sharply despite the reassurances of just a few years ago that all was rosy on the housing front. Many factors have been blamed for this crisis, but who is really responsible? And perhaps more importantly, why was everyone so taken by surprise?

In Chain of Blame, acclaimed financial reporters Paul Muolo and Mathew Padilla go behind the headlines to tell the inside story of why Wall Street's established investment banks bear much of the blame for the events that have cost millions of Americans their homes. They show in detail how, from 2000 to 2007, executives from Merrill Lynch, Bear Stearns, Lehman Brothers, and others financed non-bank mortgage lenders that eagerly sold their mortgages to consumers through loan brokers. Wall Street then sold bonds backed by subprime mortgages to overseas investors in Europe and Asia—which led to financial difficulties there as well.

The authors build their compelling story around the key players in this tragedy, first and foremost being Angelo Mozilo, founder and CEO of Countrywide Financial, America's largest home mortgage lender. From Mozilo's July 2007 conference call with a group of top Wall Street equities analysts—which marks the true beginning of this fiasco—to his congressional rebuke in 2008, Chain of Blame chronicles the crisis in detail, showingreaders what happened, who is responsible, and what lies ahead.

As the dust settles around these life-shattering events, the blame game has begun. But as Muolo and Padilla show with stunning clarity, there is really no single entity or individual to point the finger at. It was a mix of factors and participants—the world's largest investment banks, homeowners, lenders, credit rating agencies and underwriters, and investors—that precipitated the current subprime mess.

Chain of Blame ultimately reveals how human behavior and greed drove the demand, supply, and the investor appetite for these types of loans—and how Wall Street was all too willing to satisfy the desires of those who should have known better.

From the Back Cover:

Praise for Chain of Blame

An Updated and Expanded Look at the Truth Behind America'sHousing and Mortgage Bubbles

"A ripping piece of reporting."—Bloomberg

"A juicy, name-dropping read."—BusinessWeek

"Two of the smartest, most entertaining investigative reportersalive describe one of the most important financial stories of ourtime. If you had any skin at all in the housing boom, you've got toread the story of exactly how that boom went bust."—DavidAsman, Host, America's Nightly Scoreboard

"Paul Muolo and Mathew Padilla display their deep knowledge ofthe mortgage industry and all its players. Chain of Blame isa comprehensive examination of a crisis that affects us all."
—Scott Cohn, Correspondent, CNBC

In the summer of 2007, the subprime empire that Wall Street hadbuilt all came crashing down. On average, fifty lenders a monthwere going bust—and the people responsible for the crisisincluded not just unregulated loan brokers and con artists, butalso investment bankers and home loan institutions traditionallyperceived as completely trustworthy.

Chain of Blame chronicles this incredible disaster, witha specific focus on the players who participated in such a flawedfiasco. The authors reveal the truth behind how this crisisoccurred, what individuals and institutions were doing during thiscritical time, and who is ultimately responsible.

"About this title" may belong to another edition of this title.

Other Popular Editions of the Same Title

9780470292778: Chain of Blame: How Wall Street Caused the Mortgage and Credit Crisis

Featured Edition

ISBN 10:  0470292776 ISBN 13:  9780470292778
Publisher: Wiley, 2008
Hardcover

Top Search Results from the AbeBooks Marketplace

1.

Paul Muolo; Mathew Padilla
Published by John Wiley and Sons
ISBN 10: 0470554657 ISBN 13: 9780470554654
New Quantity Available: > 20
Seller:
INDOO
(Avenel, NJ, U.S.A.)
Rating
[?]

Book Description John Wiley and Sons. Condition: New. Brand New. Seller Inventory # 0470554657

More information about this seller | Contact this seller

Buy New
US$ 9.01
Convert currency

Add to Basket

Shipping: US$ 3.60
Within U.S.A.
Destination, rates & speeds

2.

Mathew Padilla, Paul Muolo
Published by John Wiley and Sons Ltd, United Kingdom (2010)
ISBN 10: 0470554657 ISBN 13: 9780470554654
New Paperback Quantity Available: 1
Seller:
Book Depository International
(London, United Kingdom)
Rating
[?]

Book Description John Wiley and Sons Ltd, United Kingdom, 2010. Paperback. Condition: New. Updated, Expanded ed.. Language: English. Brand new Book. An updated and revised look at the truth behind America's housing and mortgage bubblesIn the summer of 2007, the subprime empire that Wall Street had built all came crashing down. On average, fifty lenders a month were going bust-and the people responsible for the crisis included not just unregulated loan brokers and con artists, but also investment bankers and home loan institutions traditionally perceived as completely trustworthy.Chain of Blame chronicles this incredible disaster, with a specific focus on the players who participated in such a fundamentally flawed fiasco. In it, authors Paul Muolo and Mathew Padilla reveal the truth behind how this crisis occurred, including what individuals and institutions were doing during this critical time, and who is ultimately responsible for what happened.* Discusses the latest revelations in the housing and mortgage crisis, including the SEC's charging of Angelo Mozilo * Two well-regarded financial journalists familiar with the events that have taken place chronicle the crisis in detail, showing what happened as well as what lies ahead * Discusses how the world's largest investment banks, homeowners, lenders, credit rating agencies, underwriters, and investors all became entangled in the subprime messIntriguing and informative, Chain of Blame is a compelling story of greed and avarice, one in which many are responsible, but few are willing to admit their mistakes. Seller Inventory # AAH9780470554654

More information about this seller | Contact this seller

Buy New
US$ 12.65
Convert currency

Add to Basket

Shipping: FREE
From United Kingdom to U.S.A.
Destination, rates & speeds

3.

Paul Muolo, Mathew Padilla
Published by John Wiley and Sons Ltd, United Kingdom (2010)
ISBN 10: 0470554657 ISBN 13: 9780470554654
New Paperback Quantity Available: 1
Seller:
The Book Depository
(London, United Kingdom)
Rating
[?]

Book Description John Wiley and Sons Ltd, United Kingdom, 2010. Paperback. Condition: New. Updated, Expanded ed.. Language: English . Brand New Book. An updated and revised look at the truth behind America s housing and mortgage bubbles In the summer of 2007, the subprime empire that Wall Street had built all came crashing down. On average, fifty lenders a month were going bust-and the people responsible for the crisis included not just unregulated loan brokers and con artists, but also investment bankers and home loan institutions traditionally perceived as completely trustworthy. Chain of Blame chronicles this incredible disaster, with a specific focus on the players who participated in such a fundamentally flawed fiasco. In it, authors Paul Muolo and Mathew Padilla reveal the truth behind how this crisis occurred, including what individuals and institutions were doing during this critical time, and who is ultimately responsible for what happened. Discusses the latest revelations in the housing and mortgage crisis, including the SEC s charging of Angelo MoziloTwo well-regarded financial journalists familiar with the events that have taken place chronicle the crisis in detail, showing what happened as well as what lies aheadDiscusses how the world s largest investment banks, homeowners, lenders, credit rating agencies, underwriters, and investors all became entangled in the subprime mess Intriguing and informative, Chain of Blame is a compelling story of greed and avarice, one in which many are responsible, but few are willing to admit their mistakes. Seller Inventory # AAH9780470554654

More information about this seller | Contact this seller

Buy New
US$ 12.96
Convert currency

Add to Basket

Shipping: FREE
From United Kingdom to U.S.A.
Destination, rates & speeds

4.

Mathew Padilla, Paul Muolo
Published by John Wiley and Sons Ltd, United Kingdom (2010)
ISBN 10: 0470554657 ISBN 13: 9780470554654
New Paperback Quantity Available: 10
Seller:
Book Depository hard to find
(London, United Kingdom)
Rating
[?]

Book Description John Wiley and Sons Ltd, United Kingdom, 2010. Paperback. Condition: New. Updated, Expanded ed.. Language: English. Brand new Book. An updated and revised look at the truth behind America's housing and mortgage bubblesIn the summer of 2007, the subprime empire that Wall Street had built all came crashing down. On average, fifty lenders a month were going bust-and the people responsible for the crisis included not just unregulated loan brokers and con artists, but also investment bankers and home loan institutions traditionally perceived as completely trustworthy.Chain of Blame chronicles this incredible disaster, with a specific focus on the players who participated in such a fundamentally flawed fiasco. In it, authors Paul Muolo and Mathew Padilla reveal the truth behind how this crisis occurred, including what individuals and institutions were doing during this critical time, and who is ultimately responsible for what happened.* Discusses the latest revelations in the housing and mortgage crisis, including the SEC's charging of Angelo Mozilo * Two well-regarded financial journalists familiar with the events that have taken place chronicle the crisis in detail, showing what happened as well as what lies ahead * Discusses how the world's largest investment banks, homeowners, lenders, credit rating agencies, underwriters, and investors all became entangled in the subprime messIntriguing and informative, Chain of Blame is a compelling story of greed and avarice, one in which many are responsible, but few are willing to admit their mistakes. Seller Inventory # BTE9780470554654

More information about this seller | Contact this seller

Buy New
US$ 16.45
Convert currency

Add to Basket

Shipping: FREE
From United Kingdom to U.S.A.
Destination, rates & speeds

5.

Paul Muolo
Published by John Wiley and Sons Ltd
ISBN 10: 0470554657 ISBN 13: 9780470554654
New Paperback Quantity Available: 4
Seller:
THE SAINT BOOKSTORE
(Southport, United Kingdom)
Rating
[?]

Book Description John Wiley and Sons Ltd. Paperback. Condition: New. New copy - Usually dispatched within 2 working days. Seller Inventory # B9780470554654

More information about this seller | Contact this seller

Buy New
US$ 9.62
Convert currency

Add to Basket

Shipping: US$ 9.07
From United Kingdom to U.S.A.
Destination, rates & speeds

6.

Muolo, Paul
Published by John Wiley and#38; Sons (2010)
ISBN 10: 0470554657 ISBN 13: 9780470554654
New Quantity Available: 3
Seller:
Books2Anywhere
(Fairford, GLOS, United Kingdom)
Rating
[?]

Book Description John Wiley and#38; Sons, 2010. PAP. Condition: New. New Book. Shipped from UK in 4 to 14 days. Established seller since 2000. Seller Inventory # FW-9780470554654

More information about this seller | Contact this seller

Buy New
US$ 8.70
Convert currency

Add to Basket

Shipping: US$ 11.76
From United Kingdom to U.S.A.
Destination, rates & speeds

7.

Paul Muolo, Mathew Padilla
Published by Wiley (2010)
ISBN 10: 0470554657 ISBN 13: 9780470554654
New Paperback Quantity Available: 1
Seller:
Ergodebooks
(RICHMOND, TX, U.S.A.)
Rating
[?]

Book Description Wiley, 2010. Paperback. Condition: New. 1. Seller Inventory # DADAX0470554657

More information about this seller | Contact this seller

Buy New
US$ 17.89
Convert currency

Add to Basket

Shipping: US$ 3.99
Within U.S.A.
Destination, rates & speeds

8.

Paul Muolo; Mathew Padilla
Published by Wiley (2010)
ISBN 10: 0470554657 ISBN 13: 9780470554654
New Softcover Quantity Available: 1
Seller:
Irish Booksellers
(Portland, ME, U.S.A.)
Rating
[?]

Book Description Wiley, 2010. Condition: New. book. Seller Inventory # M0470554657

More information about this seller | Contact this seller

Buy New
US$ 19.71
Convert currency

Add to Basket

Shipping: US$ 3.27
Within U.S.A.
Destination, rates & speeds

9.

Paul Muolo (author), Mathew Padilla (author)
Published by Wiley 2010-02-19, Hoboken, N.J. (2010)
ISBN 10: 0470554657 ISBN 13: 9780470554654
New paperback Quantity Available: 1
Seller:
Blackwell's
(Oxford, OX, United Kingdom)
Rating
[?]

Book Description Wiley 2010-02-19, Hoboken, N.J., 2010. paperback. Condition: New. Seller Inventory # 9780470554654

More information about this seller | Contact this seller

Buy New
US$ 15.81
Convert currency

Add to Basket

Shipping: US$ 9.80
From United Kingdom to U.S.A.
Destination, rates & speeds

10.

Muolo, Paul/ Padilla, Mathew
Published by John Wiley & Sons Inc (2010)
ISBN 10: 0470554657 ISBN 13: 9780470554654
New Paperback Quantity Available: 2
Seller:
Revaluation Books
(Exeter, United Kingdom)
Rating
[?]

Book Description John Wiley & Sons Inc, 2010. Paperback. Condition: Brand New. exp upd edition. 379 pages. 9.00x5.75x1.25 inches. In Stock. Seller Inventory # __0470554657

More information about this seller | Contact this seller

Buy New
US$ 19.52
Convert currency

Add to Basket

Shipping: US$ 9.80
From United Kingdom to U.S.A.
Destination, rates & speeds

There are more copies of this book

View all search results for this book