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Books : The Subprime Solution: How Today's Global Financial Crisis Happened, and What to Do about ItIn association with Amazon.com List Price: $16.95 Amazon.com's Price: $11.53 You Save: $5.42 (32%)Prices subject to change. Availability: Usually ships in 24 hours
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Binding: HardcoverDewey Decimal Number: 332.722 EAN: 9780691139296 ISBN: 0691139296 Label: Princeton University Press Manufacturer: Princeton University Press Number Of Items: 1 Number Of Pages: 208 Publication Date: August 24, 2008 Publisher: Princeton University Press Studio: Princeton University Press Sales Rank: 1119 Related Items:
Editorial Review: Product Description: The subprime mortgage crisis has already wreaked havoc on the lives of millions of people and now it threatens to derail the U.S. economy and economies around the world. In this trenchant book, best-selling economist Robert Shiller reveals the origins of this crisis and puts forward bold measures to solve it. He calls for an aggressive response--a restructuring of the institutional foundations of the financial system that will not only allow people once again to buy and sell homes with confidence, but will create the conditions for greater prosperity in America and throughout the deeply interconnected world economy. Shiller blames the subprime crisis on the irrational exuberance that drove the economy's two most recent bubbles--in stocks in the 1990s and in housing between 2000 and 2007. He shows how these bubbles led to the dangerous overextension of credit now resulting in foreclosures, bankruptcies, and write-offs, as well as a global credit crunch. To restore confidence in the markets, Shiller argues, bailouts are needed in the short run. But he insists that these bailouts must be targeted at low-income victims of subprime deals. In the longer term, the subprime solution will require leaders to revamp the financial framework by deploying an ambitious package of initiatives to inhibit the formation of bubbles and limit risks, including better financial information; simplified legal contracts and regulations; expanded markets for managing risks; home equity insurance policies; income-linked home loans; and new measures to protect consumers against hidden inflationary effects. This powerful book is essential reading for anyone who wants to understand how we got into the subprime mess--and how we can get out. Average Rating:
 Rating:  - Financial DemocracyFor Prof. R.J. Shiller, the root of the subprime mortgage crisis in the US is a myth, the belief that real estate prices must strongly trend upward for demographic reasons. He proves that the price of real estate, to the contrary, is trending lower. What went up are the quality and the dimension of the average individual houses. But what about `land'? Didn't Mark Twain recommend strongly: `Go for land. They've stopped producing it.'? R.J. Shiller remarks cleverly that only 2,6 % of US land ... Read More Rating: - Clear and insightful book on the subprime crisisRobert Shiller's book doesn't warrant some of the negative reviews on here. In an age of talking heads and pundits who argue more so on the basis of philosophy than on any factual evidence, this book's clear and evidence based examination of the subprime crisis comes as a refreshing alternative. Shiller, a Yale professor of economics, overcomes any temptation to over complicate or to talk down to the reader and gives a frank and detailed assessments of the current mortgage mess, the ... Read More Rating: - An interesting but uneven treatment of the subprime messRobert Shiller, the creator of the Case Shiller Home Price Index, comes to the subprime mess with certified authority and insight. The first three chapters are well written and enlightening. His comments about the long term buildup of the housing boom and its effect on the national psychology of the bubble are on target; he must be taken seriously on the present threat to the social cohesion of the country comparing its rendering to the Great Depression and his comments about the amplification of ... Read More Rating:  - not up to Shiller's standardsSmall book, with large type and many spaces. Out of date given the recent economic crisis. Not very interesting. Rating: - Sub Prime ----too lateThie book tells the reader what we already know about the sub-prime lending problem..... stupid buyers and greedy lenders. Don't waiste your time reading this one. Browse for similar items by category:
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