Other People's Houses. How Decades of Bailouts, Captive Regulators, and Toxic Bankers Made Home Mortgages a Thrilling Business

In the wake of the financial meltdown in 2008, there were many who claimed it had been inevitable, that "no one saw it coming", and that subprime borrowers were to blame. This accessible, thoroughly researched book is Jennifer Taub's response to such unfounded claims. Drawing on wide-ranging experience as a corporate lawyer, investment firm counsel, and scholar of business law and financial market regulation, Taub chronicles how government officials helped bankers inflate the toxic-mortgage-backed housing bubble, then after the burst ignored the plight of millions of homeowners suddenly facing foreclosure. Focusing new light on the similarities between the Savings and Loan debacle of the 1980s and the Financial Crisis in 2008, Taub reveals that in both cases the same reckless banks, operating under different names, received government bailouts while the same lax regulators overlooked fraud and abuse. Furthermore, in 2013 the situation is essentially unchanged. The author asserts that the 2008 Crisis was not just similar to the S&L scandal, it was a severe relapse of the same underlying disease. And despite modest regulatory reforms, the disease remains uncured: top banks remain too big to manage, too big to regulate, and too big to fail.
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An aparitie	July 2014
Autor	Taub Jennifer
Dimensiuni	23,4x15,6 cm
Editura	Yale University Press
Format	Hardback
Limba	Engleza
Nr pag	256