Days of slaughter: inside the fall of Freddie Mac and why it could happen again
"In September 2008, beset by mounting losses on high-risk mortgages and mortgage securities, the Federal Home Loan Mortgage Corporation teetered on the brink of insolvency. Fearing that confidence in the housing market would collapse completely if Freddie Mac and its competitor Fannie Mae faile...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Baltimore
Johns Hopkins University Press
2017
|
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Zusammenfassung: | "In September 2008, beset by mounting losses on high-risk mortgages and mortgage securities, the Federal Home Loan Mortgage Corporation teetered on the brink of insolvency. Fearing that confidence in the housing market would collapse completely if Freddie Mac and its competitor Fannie Mae failed, the US government made the difficult decision to place the two firms into conservatorship, taking control away from shareholders. Although the taxpayer commitment of hundreds of billions was meant to stabilize the housing finance system, Freddie's fall at the start of the financial crisis set off shockwaves around the world. In Days of Slaughter, Susan Wharton Gates, a former 19-year Freddie Mac employee and vice president of public policy, provides a vivid eyewitness account of the competing economic and political forces that led to massive losses for shareholders, investors, homeowners...and taxpayers. With a keen eye to the policy landscape, Gates relates the fateful decisions that led to Freddie Mac's downfall and desperate rescue. She also examines today's worrisome headlines about potential future bailouts, the uneven housing recovery, and stymied congressional reform efforts. Throughout the book, Gates argues convincingly that policymakers will be unable to safely reform the massive housing finance system that currently rests squarely on taxpayer shoulders without addressing deeper issues of ideology, moral hazard, and interest group politics. The first book to tell the story of Freddie Mac from an insider perspective...while casting a prophetic eye to the future...this first-hand account of housing policies, complex financial transactions, and the crazy quilt of federal and state actors involved in the Great Recession is a must-read. A cautionary tale of failed policies and corporate mismanagement that compellingly addresses previously unexplored issues of political ideology, organizational dynamics, and ethics, Days of Slaughter will appeal to readers everywhere who want a fuller explanation of what went awry in the US housing market"... |
| Beschreibung: | Includes bibliographical references (pages 257-278) and index |
| Beschreibung: | xii, 286 Seiten 24 cm |
| ISBN: | 9781421421933 |
Internformat
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| 520 | |a With a keen eye to the policy landscape, Gates relates the fateful decisions that led to Freddie Mac's downfall and desperate rescue. She also examines today's worrisome headlines about potential future bailouts, the uneven housing recovery, and stymied congressional reform efforts. Throughout the book, Gates argues convincingly that policymakers will be unable to safely reform the massive housing finance system that currently rests squarely on taxpayer shoulders without addressing deeper issues of ideology, moral hazard, and interest group politics. The first book to tell the story of Freddie Mac from an insider perspective...while casting a prophetic eye to the future...this first-hand account of housing policies, complex financial transactions, and the crazy quilt of federal and state actors involved in the Great Recession is a must-read. | ||
| 520 | |a A cautionary tale of failed policies and corporate mismanagement that compellingly addresses previously unexplored issues of political ideology, organizational dynamics, and ethics, Days of Slaughter will appeal to readers everywhere who want a fuller explanation of what went awry in the US housing market"... | ||
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Datensatz im Suchindex
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| adam_text | DAYS OF SLAUGHTER
/ GATES, SUSAN WHARTONYYEAUTHOR
: 2017
TABLE OF CONTENTS / INHALTSVERZEICHNIS
STRONG CONTENTS /STRONG KEY ACRONYMS ACKNOWLEDGEMENTS PROLOGUE -
ACKNOWLEDGING THE OBVIOUS 5I. RECKONING DAY 8II. HOMEOWNERSHIP: DREAM OR
NIGHTMARE? 35III. SECURITIZATION BREAKDOWN 62 IV. CHARTER CONFUSION 90
V. AFFORDABLE HOUSING 112VI. SUBPRIME SEMANTICS 138VII. POLITICAL
CAPTURE 156VIII. WHO S ULTIMATELY RESPONSIBLE? 181IX. SCANDAL (S) 198X.
BATTLE FOR CREDIT LEADERSHIP 222XI. ONE TOUGH BILL 247XII. STAND UP AND
SAY 272XIII. THE UNRAVELING 288XIV. SAD GOODBYES 305XV: HOUSING S FUTURE
309XVI: WHEREFORE ETHICS? 319
DIESES SCHRIFTSTUECK WURDE MASCHINELL ERZEUGT.
|
| any_adam_object | 1 |
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| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
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| spelling | Gates, Susan Wharton Verfasser (DE-588)1130408043 aut Days of slaughter inside the fall of Freddie Mac and why it could happen again Susan Wharton Gates Baltimore Johns Hopkins University Press 2017 xii, 286 Seiten 24 cm txt rdacontent n rdamedia nc rdacarrier Includes bibliographical references (pages 257-278) and index "In September 2008, beset by mounting losses on high-risk mortgages and mortgage securities, the Federal Home Loan Mortgage Corporation teetered on the brink of insolvency. Fearing that confidence in the housing market would collapse completely if Freddie Mac and its competitor Fannie Mae failed, the US government made the difficult decision to place the two firms into conservatorship, taking control away from shareholders. Although the taxpayer commitment of hundreds of billions was meant to stabilize the housing finance system, Freddie's fall at the start of the financial crisis set off shockwaves around the world. In Days of Slaughter, Susan Wharton Gates, a former 19-year Freddie Mac employee and vice president of public policy, provides a vivid eyewitness account of the competing economic and political forces that led to massive losses for shareholders, investors, homeowners...and taxpayers. With a keen eye to the policy landscape, Gates relates the fateful decisions that led to Freddie Mac's downfall and desperate rescue. She also examines today's worrisome headlines about potential future bailouts, the uneven housing recovery, and stymied congressional reform efforts. Throughout the book, Gates argues convincingly that policymakers will be unable to safely reform the massive housing finance system that currently rests squarely on taxpayer shoulders without addressing deeper issues of ideology, moral hazard, and interest group politics. The first book to tell the story of Freddie Mac from an insider perspective...while casting a prophetic eye to the future...this first-hand account of housing policies, complex financial transactions, and the crazy quilt of federal and state actors involved in the Great Recession is a must-read. A cautionary tale of failed policies and corporate mismanagement that compellingly addresses previously unexplored issues of political ideology, organizational dynamics, and ethics, Days of Slaughter will appeal to readers everywhere who want a fuller explanation of what went awry in the US housing market"... Federal Home Loan Mortgage Corporation BUSINESS & ECONOMICS / Economic History / bisacsh BUSINESS & ECONOMICS / Economic Conditions / bisacsh POLITICAL SCIENCE / Government / General / bisacsh Wirtschaft Subprime mortgage loans United States Global Financial Crisis, 2008-2009 Housing policy United States BUSINESS & ECONOMICS / Economic History BUSINESS & ECONOMICS / Economic Conditions POLITICAL SCIENCE / Government / General USA Erscheint auch als Online-Ausgabe, ebook 978-1-4214-2194-0 LoC Fremddatenuebernahme application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=029891773&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Gates, Susan Wharton Days of slaughter inside the fall of Freddie Mac and why it could happen again Federal Home Loan Mortgage Corporation BUSINESS & ECONOMICS / Economic History / bisacsh BUSINESS & ECONOMICS / Economic Conditions / bisacsh POLITICAL SCIENCE / Government / General / bisacsh Wirtschaft Subprime mortgage loans United States Global Financial Crisis, 2008-2009 Housing policy United States BUSINESS & ECONOMICS / Economic History BUSINESS & ECONOMICS / Economic Conditions POLITICAL SCIENCE / Government / General |
| title | Days of slaughter inside the fall of Freddie Mac and why it could happen again |
| title_auth | Days of slaughter inside the fall of Freddie Mac and why it could happen again |
| title_exact_search | Days of slaughter inside the fall of Freddie Mac and why it could happen again |
| title_full | Days of slaughter inside the fall of Freddie Mac and why it could happen again Susan Wharton Gates |
| title_fullStr | Days of slaughter inside the fall of Freddie Mac and why it could happen again Susan Wharton Gates |
| title_full_unstemmed | Days of slaughter inside the fall of Freddie Mac and why it could happen again Susan Wharton Gates |
| title_short | Days of slaughter |
| title_sort | days of slaughter inside the fall of freddie mac and why it could happen again |
| title_sub | inside the fall of Freddie Mac and why it could happen again |
| topic | Federal Home Loan Mortgage Corporation BUSINESS & ECONOMICS / Economic History / bisacsh BUSINESS & ECONOMICS / Economic Conditions / bisacsh POLITICAL SCIENCE / Government / General / bisacsh Wirtschaft Subprime mortgage loans United States Global Financial Crisis, 2008-2009 Housing policy United States BUSINESS & ECONOMICS / Economic History BUSINESS & ECONOMICS / Economic Conditions POLITICAL SCIENCE / Government / General |
| topic_facet | Federal Home Loan Mortgage Corporation BUSINESS & ECONOMICS / Economic History / bisacsh BUSINESS & ECONOMICS / Economic Conditions / bisacsh POLITICAL SCIENCE / Government / General / bisacsh Wirtschaft Subprime mortgage loans United States Global Financial Crisis, 2008-2009 Housing policy United States BUSINESS & ECONOMICS / Economic History BUSINESS & ECONOMICS / Economic Conditions POLITICAL SCIENCE / Government / General USA |
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