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Books : Financial Shock: A 360º Look at the Subprime Mortgage Implosion, and How to Avoid the Next Financial CrisisIn association with Amazon.comby: Mark Zandi  List Price: $24.99 Amazon.com's Price: $16.49 You Save: $8.50 (34%)Prices subject to change. Availability: Usually ships in 24 hours
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Binding: HardcoverDewey Decimal Number: 332.7220973 EAN: 9780137142903 ISBN: 0137142900 Label: FT Press Manufacturer: FT Press Number Of Items: 1 Number Of Pages: 288 Publication Date: July 19, 2008 Publisher: FT Press Studio: FT Press Sales Rank: 3862 Accessories:
Editorial Review: Product Description: "In Financial Shock, Mr. Zandi provides a concise and lucid account of the economic, political and regulatory forces behind this binge." --The Wall Street Journal "Aggressive builders, greedy lenders, optimistic home buyers: Zandi succinctly dissects the mortgage mess from start to (one hopes) finish." --U.S. News and World Report "If you wonder how it could be possible for a subprime mortgage loan to bring the global financial system and the U.S. economy to its knees, you should read this book. No one is better qualified to provide this insight and advice than Mark Zandi." -- Larry Kudlow, Host, CNBC's Kudlow & Company "Every once in a while a book comes along that's so important, it commands recognition. This is one of them. Zandi provides a rilliant blow-by-blow account of how greed, stupidity, and recklessness brought the first major economic crises of the 21st entury and the most serious since the Great Depression." --Bernard Baumohl,Managing Director, The Economic Outlook Group and best-selling author, The Secrets of Economic Indicators "Throughout the financial crisis Mark Zandi has played two important roles.He has insightfully analyzed its causes and thoughtfully recommended steps to alleviate it. This book continues those tasks and adds a third--providing a comprehensive and comprehensible explanation of the issues that is accessible to the general public and extremely useful to those who specialize in the area." --Barney Frank, Chairman, House Financial Services Committee The subprime crisis created a gigantic financial catastrophe. What happened? How did it happen? How can we prevent similar crises from happening again? Mark Zandi answers all these critical questions--systematically, carefully, and in plain English. Zandi begins with a fast-paced overview and then illuminates the deepest causes, from the psychology of homeownership to Alan Greenspan's missteps. You'll see the home "flippers" at work and the real estate agents who cheered them on. You'll learn how Internet technology and access to global capital transformed the mortgage industry, helping irresponsible lenders drive out good ones.Zandi demystifies the complex financial engineering that enabled lenders to hide deepening risks, shows how global investors eagerly bought in, and explains how flummoxed regulators failed to prevent disaster, despite crucial warning signs. Most important, Zandi offers indispensable advice for investors who must recognize emerging bubbles, policymakers who must improve oversight, and citizens who must survive whatever comes next. *Liar's loans, flippers, predatory lenders, delusional homebuilders How the housing market came unhinged, and the whirlwind came together*Alan Greenspan's trillion-dollar bet Betting on the boom, ignoring the bubble*The subprime market goes global Worldwide investors get a piece of the action--and reap the results*Wall Street's alchemists: conjuring up Frankenstein New financial instruments and their hidden contents*Back to the future: risk management for the 21st century Respecting the "animal spirits" that drive even the most sophisticated markets Average Rating:
 Rating:  - okok but somehow repeatative nothing special about it, just a simple chat on the background Rating:  - Missing a critical part of the problemThe author of this book is employed by Moody's (a rating agency) and excuses himself from discussing the role that the rating agencies played. If fact you cannot fully explain how the financial meltdown occurred without fully disclosing the role the ratings agencies played and their culpability. It is not possible to avoid future meltdowns without adding reform of the debt rating system to the plan. I was frankly amazed that a Moody's employee would even have the nerve to write a book ... Read More Rating:  - Good explanations but the tough questions are totally ignoredOn a positive note, this book provides a good explanation of how the current financial crisis developed. Published in July 2008, it necessarily misses many of the huge developments that have occurred in recent months. To be fair, let's give Mr. Zandi credit for accurately predicting upcoming problems in the CDS market - see page 230. He is also the first critic I have found that notes the role of REITs in this crisis. However, as many of the reviews have noted, there are numerous shortcomings ... Read More Rating: - Fantstic readMark Zandi does a terrific job of explaining the subprime mess that helped propel this financial crisis to near doomsday. The book is a detail and thorough analysis and is a good read for those who enjoy the world of finances and how interest rates and such work. However, as with most financial crisis, it is always easier to tell how it all happened after it happens. Good information, and a good read. Give it a read. Rating: - Kindle price for this book is too highI know this is not a review, but I don't know where else to say this: Why does this book cost 14.99 for the Kindle edition? I hope that this will not be a trend in kindle prices, now that I have one. Browse for similar items by category:
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