Subprime Nation

Subprime Nation
Author :
Publisher : Cornell University Press
Total Pages : 277
Release :
ISBN-10 : 9780801458033
ISBN-13 : 080145803X
Rating : 4/5 (03X Downloads)

Book Synopsis Subprime Nation by : Herman M. Schwartz

Download or read book Subprime Nation written by Herman M. Schwartz and published by Cornell University Press. This book was released on 2011-01-15 with total page 277 pages. Available in PDF, EPUB and Kindle. Book excerpt: In his exceedingly timely and innovative look at the ramifications of the collapse of the U.S. housing market, Herman M. Schwartz makes the case that worldwide, U.S. growth and power over the last twenty years has depended in large part on domestic housing markets. Mortgage-based securities attracted a cascade of overseas capital into the U.S. economy. High levels of private home ownership, particularly in the United States and the United Kingdom, have helped pull in a disproportionately large share of world capital flows.As events since mid-2008 have made clear, mortgage lenders became ever more eager to extend housing loans, for the more mortgage packages they securitized, the higher their profits. As a result, they were dangerously inventive in creating new mortgage products, notably adjustable-rate and subprime mortgages, to attract new, mainly first-time, buyers into the housing market. However, mortgage-based instruments work only when confidence in the mortgage system is maintained. Regulatory failures in the American S&L sector, the accounting crisis that led to the extinction of Arthur Andersen, and the subprime crisis that destroyed Lehman Brothers and Merrill Lynch and damaged many other big financial institutions have jeopardized a significant engine of economic growth. Schwartz concentrates on the impact of U.S. regulatory failure on the international economy. He argues that the "local" problem of the housing crisis carries substantial and ongoing risks for U.S. economic health, the continuing primacy of the U.S. dollar in international financial circles, and U.S. hegemony in the world system.


Subprime Nation Related Books

Subprime Nation
Language: en
Pages: 277
Authors: Herman M. Schwartz
Categories: Political Science
Type: BOOK - Published: 2011-01-15 - Publisher: Cornell University Press

GET EBOOK

In his exceedingly timely and innovative look at the ramifications of the collapse of the U.S. housing market, Herman M. Schwartz makes the case that worldwide,
Subprime Attention Crisis
Language: en
Pages: 103
Authors: Tim Hwang
Categories: Business & Economics
Type: BOOK - Published: 2020-10-13 - Publisher: FSG Originals

GET EBOOK

From FSGO x Logic: a revealing examination of digital advertising and the internet's precarious foundation In Subprime Attention Crisis, Tim Hwang investigates
The Subprime Solution
Language: en
Pages: 224
Authors: Robert J. Shiller
Categories: Business & Economics
Type: BOOK - Published: 2012-09-24 - Publisher: Princeton University Press

GET EBOOK

A best-selling economist reveals the origins of the subprime mortgage crisis and puts forward bold measures to resolve it by restructuring the institutional fou
Debtor Nation
Language: en
Pages: 391
Authors: Louis Hyman
Categories: History
Type: BOOK - Published: 2011-01-03 - Publisher: Princeton University Press

GET EBOOK

The story of personal debt in modern America Before the twentieth century, personal debt resided on the fringes of the American economy, the province of small-t
Financial Shock
Language: en
Pages: 283
Authors: Mark Zandi
Categories: Business & Economics
Type: BOOK - Published: 2008-07-09 - Publisher: FT Press

GET EBOOK

“The obvious place to start is the financial crisis and the clearest guide to it that I’ve read is Financial Shock by Mark Zandi. ... it is an impressively