Busted "Life Inside The Great Mortgage Meltdown"

Life Inside The Great Mortgage Meltdown

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Andrews, Edmund L.

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ISBN:9780393067941
Editorial: Norton
Fecha de la edición:2009
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Dimensiones: 0 cm x 0 cm
Nº Pág.:224
Idiomas:Ingles

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/ Sistema Financiero
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This is the story of the fiasco that sank millions of Americans, including one journalist, who thought he knew better. A "The New York Times" economics reporter, Edmund L. Andrews was intimately aware of the dangers posed by easy mortgages. But, eager to start a new life, he gave in to temptation and began a surreal adventure into the mortgage mayhem that nearly wrecked America. "Busted" weaves together the author's ride to the edge of bankruptcy with the tragic-comic stories of his lenders, the Wall Street professionals behind them and the policymakers in Washington who were oblivious until it was too late. The story takes Andrews to the offices of Alan Greenspan, the California mansions of subprime-mortgage millionaires, a despondent deal makers' convention in Las Vegas and Wall Street. "Busted" is a darkly humorous exploration of the cynicism and self-destructive judgement that led to America's biggest economic calamity in generations.

Introduction
1 Money for Nothing 3
2 Prudence Is for Losers 21
3 My Lender Drinks the Kool-Aid 38
4 Magical Thinking, Real Debts 56
5 Alan Greenspan 65
6 Conning the Con Men 89
7 In Search of the Smart Money 105
8 Over the Cliff 123
9 Enablers of Disaster 133
10 Bull in the Subprime Shop 149
11 Public Flailing, Private Failing 167
12 Reverse Redlining 183
13 God Help Us All 199