Title: And Then the Roof Caved In: How Wall ...
Publisher: John Wiley & Sons Inc
Publication Date: 2009
Book Condition: As New
Dust Jacket Condition: As New
Signed: Signed by Author(s)
Edition: 1st Edition
Book Type: book
CNBC's David Faber takes an in-depth look at the causes and consequences of the recent financial collapse. Like new, first edition, signed by the author. Size: 6½" - 8½" First printing. Bookseller Inventory # 272856
Synopsis: CNBC's David Faber takes an in-depth look at the causes and consequences of the recent financial collapse
And Then the Roof Caved In lays bare the truth of the credit crisis, whose defining emotion at every turn has been greed, and whose defining failure is the complicity of the U.S. government in letting that greed rule the day. Written by CNBC's David Faber, this book painstakingly details the truth of what really happened with compelling characters who offer their first-hand accounts of what they did and why they did it.
Page by page, Faber explains the events of the previous seven years that planted the seeds for the worst economic crisis since the Great Depression. He begins in 2001, when the Federal Reserve embarked on an unprecedented effort to help the economy recover from the attacks of 9/11 by sending interest rates to all time lows. Faber also gives you an up-close look at where the crisis was incubated and unleashed upon the world-Wall Street-and introduces you to insiders from investment banks and mortgage lenders to ratings agencies, that unwittingly conspired to insure lending standards were abandoned in the head long rush for profits.
From regulators who tried to stop this problem before it swung out of control to hedge fund managers who correctly foresaw the coming housing crash and profited from it, And Then the Roof Caved In shows you how the crisis we currently face came to be.
From the Inside Flap: CNBC's David Faber unmasks the truth behind the economic crisis, whose defining theme at every turn has been greed. Greed that, when coupled with the regulatory failure of the U.S. government, was allowed to rule the day.
And Then the Roof Caved In painstakingly details what really happened to cause the greatest economic collapse since the Great Depression. Written by David Faber?the award-winning correspondent who has covered Wall Street for more than two decades?this compelling story is filled with the firsthand accounts of the bankers and regulators who unleashed this crisis on the world. They tell Faber what they did and why they did it.
Faber traces the lineage of the subprime industry and takes you back to the attacks of 9/11, after which Federal Reserve chairman Alan Greenspan embarked on an unprecedented effort to help the economy recover by sending interest rates to all-time lows. Faber details the precipitous drop in lending standards, which allowed people with marginal incomes to take on mortgages they could not afford, and explains how those mortgages came back to wreck the financial system.
And Then the Roof Caved In also reveals where this crisis was incubated?Wall Street?and introduces you to insiders from investment banks and mortgage lenders who fostered the boom and, in doing so, planted the seeds for such an astonishing economic collapse. Throughout the book, Faber weaves a narrative that takes you from subprime lenders like Quick Loan Funding and big investment banks like Merrill Lynch to regulators who tried to stop the crisis before it spiraled out of control and hedge fund managers who correctly foresaw the coming housing crash and profited from it.
Engaging and informative, And Then the Roof Caved In offers a definitive, up-close and personal analysis of the roots of this stunning worldwide economic failure.
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