1.

Record Nr.

UNINA9910808910803321

Autore

Gilbert Mark

Titolo

Complicit : how greed and collusion made the credit crisis unstoppable / / Mark Gilbert

Pubbl/distr/stampa

New York, : Bloomberg Press, 2010

ISBN

0-470-88551-3

1-282-68395-0

9786612683954

0-470-88350-2

Edizione

[1st ed.]

Descrizione fisica

1 online resource (194 p.)

Collana

Bloomberg ; ; v.19

Disciplina

332.1/7530973

Soggetti

Subprime mortgage loans - United States

Credit - United States

Financial crises - United States

Mortgage banks - United States

Lingua di pubblicazione

Inglese

Formato

Materiale a stampa

Livello bibliografico

Monografia

Note generali

Includes index.

Nota di contenuto

Bubbles are for bathtubs. The real estate boom -- Unsafe at any rating. CDOs and the companies that judged them -- Priced for perfection. the financial gene pool economic Darwinism couldn't improve -- Bubbles, bubbles everywhere. Global liquidity's search for a profitable home -- Judgment or luck. The profits banks couldn't understand-or protect against -- Knight in rusty armor. An ill-advised rescue helps show banks just how much value their collateralized debt has lost -- The noose tightens. Frozen money markets confound central bankers, hurt consumers, and drive imploding investments back onto bankers' books -- Central banks, unbalanced. Caught off guard, the financial authorities make up the rules as they go along -- Et tu, money markets and municipals? The crunch catches vanilla investments -- Giants fall. The credit crisis reaches its climax -- Conclusions and policy prescriptions.

Sommario/riassunto

"Reporter and editor Mark Gilbert plumbs the origins of the sub-prime debt crisis, tracing it back to 'a silent conspiracy of the well rewarded' in banking, real estate, trading, insurance, investing, politics,



regulation, credit rating, law, and economic theory"--Provided by publisher.