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From the Subprime Crisis to the Great Recession: A Financial History of the United States 20062009 [Kõva köide]

  • Formaat: Hardback, 462 pages, kõrgus x laius: 246x174 mm, kaal: 961 g
  • Sari: Financial History of the United States
  • Ilmumisaeg: 06-Jun-2022
  • Kirjastus: Routledge
  • ISBN-10: 1032161345
  • ISBN-13: 9781032161341
Teised raamatud teemal:
  • Formaat: Hardback, 462 pages, kõrgus x laius: 246x174 mm, kaal: 961 g
  • Sari: Financial History of the United States
  • Ilmumisaeg: 06-Jun-2022
  • Kirjastus: Routledge
  • ISBN-10: 1032161345
  • ISBN-13: 9781032161341
Teised raamatud teemal:

Originally published in 2010, this work covers the Financial Crisis of 2008 and the Great Recession of 2007-2009.



Originally published in 2010, this book covers the development of the mortgage market, the residential housing boom and bust that led to the subprime crisis, and the effect of this crisis on financial institutions as well as the stock market panic of 2008. It details the massive government interventions that sought to prevent another Great Depression.

Arvustused

Markham provides probing insights into the causes of recent financial crises. Understanding the causes of the crisis is necessary to understand possible safeguards for the future. Thomas Lee Hazen, University of North Carolina, Chapel Hill, USA.

From the Subprime Crisis to the Great Recession (2006-2009)
List of Abbreviations
xii
Preface xvii
Acknowledgments xix
Introduction xxi
Photographs follow page 622
Part III The Growth of the Mortgage Market
375(96)
9 Securitization
377(35)
Government-Sponsored Enterprises
377(1)
GSEs
377(2)
Securitization
379(2)
Collateralized Mortgage Obligations
381(1)
Mortgage Market Growth
382(1)
Secondary Market
382(2)
Private Securitizations
384(1)
Asset-Backed Commercial Paper
385(1)
Student Loans
386(5)
Subprime Lending
391(1)
Subprime Loans
391(1)
Consumer Protection Legislation
392(1)
Predatory Lending Practices
393(3)
Federal Preemption
396(3)
Fannie Mae and Freddie Mac
399(3)
Collateralized Debt Obligations
402(1)
Monoline Insurers
403(3)
Credit-Default Swaps
406(1)
Mortgage Brokers
407(1)
Nonbank Subprime Lenders
408(4)
10 Prelude to a Crisis
412(59)
Panics and Bubbles
412(1)
Some History
412(1)
The Stock Market Crash of 1929
413(1)
Inflation
414(1)
The Stock Market Crash of 1987
415(1)
Trouble Abroad
416(2)
Run-Up to the Real Estate Bubble
418(1)
Breaking the Dot. Com Bubble
418(1)
Interest Rates
419(4)
More Interest Rate Increases
423(2)
Changing of the Guard
425(1)
First-Quarter Results
425(1)
Paulson Arrives
426(1)
Interest Rate Effects
427(1)
Third Quarter
428(1)
The First Cracks Appear
429(1)
The Dow Rises
429(1)
False Hopes
430(1)
The New Year--2007
431(1)
Mixed Signals
431(1)
New Century Financial
432(1)
More Losses
433(1)
On to the Second Quarter
434(3)
Bear Stearns--The Struggle Begins
437(3)
The Credit Crunch and Private Equity
440(4)
Third-Quarter Problems
444(4)
Fair - Value Accounting
448(1)
The Fed Acts on Rates
449(2)
Subprime Problems Travel Abroad
451(2)
The Crisis at Citigroup
453(4)
UBS
457(2)
Money Market Fund Problems
459(1)
Asset-Backed Commercial Paper (ABCP) Problems
460(1)
Fed Policy
461(2)
Fourth-Quarter Results
463(1)
Fannie and Freddie
464(3)
Payday Lending
467(1)
Executive Compensation
468(3)
Part IV The Subprime Crisis
471(152)
11 The Crisis Begins
473(51)
A Crumbling Landscape
473(1)
The New Year
473(2)
SocUte Ginirale
475(1)
Countrywide Financial
476(4)
The Crisis Continues
480(1)
Policy Developments
480(2)
Mortgages
482(3)
The Crisis Continues
485(1)
Auction Rate Security Market
486(4)
More Problems
490(5)
Bear Stearns Fails
495(4)
First-Quarter Results
499(4)
More UBS Problems
503(1)
More Losses
504(1)
Economic Turmoil Continues
504(3)
Financial Services Results
507(1)
Investigations
508(1)
Broadening Problems
509(1)
Short Sales
510(2)
The Decline Continues
512(2)
Indy Mac Fails
514(2)
Energy Prices
516(1)
Federal Housing Administration
517(2)
Third-Quarter Results
519(1)
Fannie Mae and Freddie Mac Are Nationalized
520(4)
12 The Great Panic Begins
524(48)
The Financial Hurricane
524(1)
Lehman Brothers
524(7)
Reserve Primary Fund
531(3)
The AIG Debacle
534(12)
More Failures
546(1)
Merrill Lynch
546(8)
The Crisis at Morgan Stanley
554(3)
Washington Mutual (WaMu)
557(1)
Wachovia
558(3)
The Bailout
561(1)
The Feds Face the Crisis
561(1)
The Bailout Bill
562(3)
Troubled Asset Relief Program (TARP)
565(1)
More Problems
565(1)
Government Reactions
566(1)
Market Volatility
567(1)
The TARP Bailouts
567(3)
Municipal Securities
570(1)
General Electric
570(2)
13 The Crisis Continues
572(51)
The Contagion Spreads
572(1)
Crisis Abroad
572(5)
Private Equity
577(2)
Hedge Funds
579(4)
Venture Capital
583(1)
Dealing with Chaos
584(1)
The Crisis Rolls On
584(2)
Greenspan
586(1)
More Market Volatility
587(6)
More Citigroup Problems
593(2)
Government Action
595(2)
More Losses
597(3)
The Automakers Fail
600(1)
Problems in Motor City
600(1)
General Motors and Ford
601(2)
The Motor City Bailout Begins
603(5)
The Madoff Fraud and Other Problems
608(1)
Fraud Continues
608(1)
The Madoff Fraud
609(4)
Suicides and Scandals
613(2)
A Bad Year Finally Ends
615(1)
The Economy Continues to Struggle
615(3)
Year-End Results
618(5)
Part V The Crisis Abates
623(144)
14 The Rise and Fall of the Subprime Crisis
625(71)
The New President
625(1)
The New Year--2009
625(2)
Trouble Abroad
627(1)
Inauguration Day
627(2)
Regulatory Proposals and Stimulus
629(1)
The SEC
630(2)
Conditions Remain Uncertain
632(4)
Executive Compensation
636(1)
A Populist Issue Returns
636(2)
Bonuses atAIG
638(2)
The Controversy Continues
640(4)
Compensation Abroad
644(2)
The Bottom Is Reached
646(1)
The Market Decline
646(2)
Market Critics Emerge
648(1)
Market Volatility
649(2)
Government Interference
651(1)
Economic News
652(3)
Sunrise in America
655(1)
The Second Quarter Begins
655(1)
TARP Cops
656(2)
TARP Funds
658(2)
Green Shoots
660(2)
The Struggle Continues
662(5)
The Way to Recovery
667(1)
The Rocky Road
667(2)
A Parting of the Clouds
669(6)
Fourth Quarter
675(9)
A New Decade Begins
684(4)
Recovery Is Slow and Uncertain
688(8)
15 Regulation, Reform, and the Subprime Crisis
696(71)
What Caused the Subprime Crisis?
696(1)
Subprime Affirmative Action
697(1)
CRA "Extortion"
698(2)
Down Payment Policies
700(1)
Safety and Soundness Concerns
700(1)
Freddie Mac and Fannie Mae Quotas
701(2)
Andrew Cuomo
703(1)
Bush Administration
704(1)
Interest Rate Policies
705(1)
Targeted Interest Rates
706(1)
Carry Trades
707(1)
The Fed's Liquidity Role
708(2)
"Helicopter Ben" and "Hank the Bazooka"
710(1)
Capital Requirements
711(3)
SEC Capital Requirements
714(1)
Fair-Value Accounting
715(1)
The Fair-Value Fight
716(4)
The FASB Reacts
720(1)
Real Estate Appraisals
721(2)
Appraisal of Income-Producing Property
723(1)
Risk Models
724(1)
Regulatory Reform
725(1)
Financial Literacy of Regulators
725(3)
Functional Regulation
728(1)
Treasury Report
728(1)
Subprime Crisis Regulation Proposals
729(1)
Turf Wars
730(1)
The SEC and the Goldman Sachs Case
731(5)
Dodd-Frank Wall Street Reform and Consumer Protection Act
736(4)
Elusive Systemic Risk
740(1)
The SEC, CFTC, and Derivatives
741(6)
Hedge Funds
747(1)
The Ratings Agencies--Shoot the Messenger
748(7)
Consumer Protection
755(1)
Consumer Financial Protection Bureau
756(2)
Compensation Issues Again
758(3)
Federal Insurance
761(1)
Regulation Abroad
762(1)
The Financial Services Authority
762(2)
European Union
764(3)
Conclusion 767(2)
Notes 769(8)
Selected Bibliography 777(8)
Cumulative Name Index 785(30)
Cumulative Subject Index 815(11)
About the Author 826
Jerry W. Markham is a professor of law at Florida International University in Miami, USA, where he teaches corporate and international business law.