Complicit
Subtitle: how greed and collusion made the credit crisis unstoppable
By: Mark Gilbert.
Edition: 1st ed.
Publisher: Bloomberg Press
Published: 2010
Place of publication: New York
Language: eng
Number of pages: 182
ISBN-13: 9781576603468
Subjects: Subprime mortgage loans -- United States; Credit -- United States; Financial crises -- United States; Mortgage banks -- United States
Description: "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.
Notes: Includes index.
Table of contents: title: Bubbles are for bathtubs. The real estate boom; title: Unsafe at any rating. CDOs and the companies that judged them; title: Priced for perfection. the financial gene pool economic Darwinism couldn't improve; title: Bubbles, bubbles everywhere. Global liquidity's search for a profitable home; title: Judgment or luck. The profits banks couldn't understand-or protect against; title: Knight in rusty armor. An ill-advised rescue helps show banks just how much value their collateralized debt has lost; title: The noose tightens. Frozen money markets confound central bankers, hurt consumers, and drive imploding investments back onto bankers' books; title: Central banks, unbalanced. Caught off guard, the financial authorities make up the rules as they go along; title: Et tu, money markets and municipals? The crunch catches vanilla investments; title: Giants fall. The credit crisis reaches its climax; title: Conclusions and policy prescriptions.