Gilbert Complicit

How Greed and Collusion Made the Credit Crisis Unstoppable
1. Auflage 2010
ISBN: 978-0-470-88350-1
Verlag: John Wiley & Sons
Format: PDF
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 192 Seiten, E-Book

Reihe: Bloomberg

The credit crunch is affecting every investor and every consumer,every industry and every government program, yet few people trulyunderstand how it happened. Subprime mortgages have been centerstage, but behind the scenes a conspiracy of greed among bankers,investors, rating agencies and regulators has imperiled everyone'sfinancial future. We need to know what went wrong and how to changethe practices that led to this calamity.
Bloomberg columnist Mark Gilbert shows how Wall Street'stolerance for extremes made the global credit crunch bothforeseeable and inevitable. He offers a blow-by-blow account ofwhat went wrong and what lessons need to be learned from thecrisis.
* Gilbert's argument--that everyone with skin in the moneygame had a vested interest in pretending that nothing could goawry--is a well-defended, compelling indictment of thefinancial community.
* Gilbert is able to make complex financial events easy tounderstand.
* His outlook is truly global: this financial crisis respects nogeographical boundaries, and Gilbert draws on anecdotes andexamples from around the world to make his case.

Autoren/Hrsg.

Gilbert, Mark

Inhaltsverzeichnis

Introduction.
1 Bubbles Are For Bathtubs.
The Real Estate Boom.
2 Unsafe at Any Rating.
CDOs and the Companies that Judged Them.
3 Priced For Perfection.
The Financial Gene Pool Economic Darwinism Couldn't Improve.
4 Bubbles, Bubbles Everywhere.
Global Liquidity's Search for a Profitable Home.
5 Judgment or Luck.
The Profits Banks Couldn't Understand--or ProtectAgainst.
6 Knight in Rusty Armor.
An Ill-Advised Rescue Helps Show Banks Just How Much Value TheirCollateralized Debt Has Lost.
7 The Noose Tightens.
Frozen Money Markets Confound Central Bankers, Hurt Consumers,and Drive Imploding Investments Back onto Bankers' Books.
8 Central Banks, Unbalanced.
Caught Off Guard, the Financial Authorities Make Up the Rules asThey Go Along.
9 Et Tu, Money Markets and Municipals?
The Crunch Catches Vanilla Investments.
10 Giants Fall.
The Credit Crisis Reaches Its Climax.
11 Conclusions and Policy Prescriptions.
Index.

Über Autor(innen)

Mark Gilbert, bureau chief for Bloomberg News in London, has been with Bloomberg News since 1991 and has written a regular column on global financial issues since 1998. He spent more than eighteen months warning about the impending credit crisis, later helping readers disentangle its consequences. He frequently appears as a commentator on Bloomberg Television.