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From Financial Crisis to Recovery (Collection)

Book Description

A new collection of objective, authoritative insights into the American economy: 2 authoritative books by top economist Mark Zandi, now in a convenient e-format, at a great price!

2 authoritative eBooks offer a realistic, non-ideological, and actionable view of the U.S. economy: what’s happened, where we stand, and where we’re headed

Get past politics and ideology: gain an objective understanding of where America’s economy stands, where it’s headed, and the best ways to improve it for the long-term. Moody Analytics chief economist Mark Zandi – who’s advised leaders in both political parties and every sector of the economy – now offers the deep insights you need to make intelligent plans as an investor, businessperson, employee, and citizen. In the new updated edition of Financial Shock: Global Panic and Government Bailouts--How We Got Here and What Must Be Done to Fix It, Zandi offers timely insights into the market meltdown and the Obama administration’s policy responses, bringing objective insight to the crucial question: why did the U.S. economy collapse, and how can we keep it from happening again? He outlines the true roles of mortgage lenders, investment bankers, speculators, the real estate industry, regulators, the Fed, and homebuyers… previews tomorrow’s most worrisome areas of global financial risk… and offers realistic policies for preventing the next dangerous shocks. Then, in Paying the Price: Ending the Great Recession and Ensuring a New American Century, Zandi takes stock of the American economy as it stands now, reviewing the progress towards recovery, and outlining what still needs to be done. Zandi offers a surprisingly optimistic diagnosis: one of growth, stability in the housing markets, a safer financial system, lower household debt. He thoughtfully reviews the key problems that still remain, from mounting government debt to the growth of disenfranchised workers, outlining the progress that has -- and hasn’t -- been made. Offering you the same insights his clients pay handsomely for, Zandi’s two books will help you make better economic decisions in all your roles – personal, financial, political.

FromMark Zandi, the world-renowned economist who regularly advises both parties and the world’s leading enterprises

Table of Contents

  1. Title Page
  2. Copyright Page
  3. Contents
  4. Financial Shock
    1. Copyright Page
    2. Dedication Page
    3. Acknowledgments
    4. About the Author
    5. Introduction
    6. 1. Subprime Précis
      1. Genesis
      2. Frenzied Innovation
      3. Housing Boom
      4. Housing Bust
      5. Underwriting Collapses
      6. Regulators and Rating Agencies
      7. Delusional Home Builders
      8. Lenders Cave
      9. Subprime Shock
      10. Money Stops Flowing
      11. Banking Buckles
      12. Bond Insurers at the Brink
      13. Liquidity-Squeezed Broker-Dealers
      14. Financial Panic
      15. The Great Recession
    7. 2. Sizing Up Subprime
      1. Government Versus Private
      2. Prime Versus Subprime
      3. Fixed Versus Adjustable
      4. Risk Layering
      5. To Securitize or Not to Securitize
      6. Sizing Subprime
    8. 3. Everyone Should Own a Home
      1. Hearth and Home
      2. No Place Like Home
      3. Incentives to Own
      4. First-Timers
      5. Trade-Up Buyers
      6. Investors
      7. Flippers
      8. At the Peak
    9. 4. Chairman Greenspan Counts on Housing
      1. Lower Rates, Bigger Homes
      2. A Call to ARMs
      3. Greenspan’s “Put”
      4. Deflation Fears
      5. Households on a Buying Binge
    10. 5. Global Money Men Want a Piece
      1. China Muscles In
      2. Emerging Investors
      3. Central Banks Pump It Up
      4. A Global Sea of Liquidity
    11. 6. Bad Lenders Drive Out the Good
      1. Mortgage Monkey Business
      2. Gresham’s Law at Work
      3. Policymakers Change the Rules
      4. Model Hubris
    12. 7. Financial Engineers and Their Creations
      1. Securitization Dissected
      2. Financial Alphabet Soup
      3. Shadow Banking System
      4. Liquidity Evaporates
      5. Leverage Kills
      6. Diversification Disintegrates
      7. Who’s Responsible?
    13. 8. Home Builders Run Aground
      1. Booms and Busts
      2. Publics Ascend
      3. Optimism Overflows
      4. Awash in Homes
    14. 9. As the Regulatory Cycle Turns
      1. Too Many Cooks
      2. Home Ownership Politics
      3. Greenspan’s Regulatory Failure
      4. Don’t Worry, Be Happy
      5. Searching for a Voice
    15. 10. Boom, Bubble, Bust, and Crash
      1. Housing Boom
      2. Housing Bubble
      3. How Overvalued?
      4. Housing Bust
      5. Housing Crash
      6. Where’s the Bottom?
    16. 11. Credit Crunch
      1. Reevaluating Risk
      2. When Insurers Need Insurance
      3. Leverage and Liquidity
      4. Bad Marks
    17. 12. Timid Policymakers Turn Bold
      1. Fiddling While Markets Burned
      2. Policy Paralysis
      3. Outside the Monetary Box
      4. Economic Stimulus I
      5. Government Misintervention
      6. Printing Money
      7. Economic Stimulus II
      8. Foreclosure Mitigation
      9. Financial Stability
      10. Adding Up the Costs
    18. 13. Economic Fallout
      1. Housing’s Tentacles
      2. Falling $, Record Oil
      3. Cracked Nest Egg
      4. Debt Millstone
    19. 14. Back to the Future
      1. Policymaking in the Crisis
      2. Preventing the Next Crisis
      3. Personal Challenge
    20. Endnotes
      1. Chapter 2
      2. Chapter 3
      3. Chapter 4
      4. Chapter 5
      5. Chapter 6
      6. Chapter 7
      7. Chapter 8
      8. Chapter 9
      9. Chapter 10
      10. Chapter 11
      11. Chapter 12
      12. Chapter 13
      13. Chapter 14
    21. Index
    22. FT Press
  5. Paying the Price
    1. Copyright Page
    2. Dedication Page
    3. Acknowledgments
    4. About the Author
    5. Introduction
    6. 1. Financial Shock to Financial Panic
      1. Tidal Wave
      2. Monetary Accelerator
      3. Broken Pipes
      4. Regulatory Failure
      5. Financial Shock
      6. Fannie and Freddie
      7. Financial Panic
      8. Endnotes
    7. 2. Bank Bailout
      1. Confidence Game
      2. Lender of Last Resort
      3. Insurer of Last Resort
      4. TARP: The Bailout Fund
      5. Stressful Stress Testing
      6. Chaos to Calm
      7. Endnotes
    8. 3. Outside the Monetary Box
      1. Battling Asset Bubbles
      2. Bernanke’s Education
      3. ZIRP, QE, and the Twist
      4. Exit Strategy
      5. Endnotes
    9. 4. As GM Goes, So Goes the Economy
      1. Headed for a Crash
      2. The Rationale
      3. The Bailout
      4. Auto-Led Recovery
      5. Endnotes
    10. 5. Stimulus Is Not a Dirty Word
      1. Stimulus Logic
      2. Temporary Tax Cuts
      3. Emergency UI and the Multiplier
      4. Municipal Bailout
      5. Shovel Ready
      6. Strong Evidence
      7. Exit Strategy
      8. Endnotes
    11. 6. The Foreclosure Fiasco
      1. Housing Boom and Bust
      2. Dazed and Confused
      3. Bold and Foolhardy
      4. Quelling the Chaos
      5. Emptying the Pipeline
      6. Endnotes
    12. 7. Fixing the Financial Plumbing
      1. Systemwide Failure
      2. Systemic Risk
      3. Resolution Authority
      4. Too Big to Fail
      5. Out of the Shadows
      6. What If?
      7. Road to Redemption
      8. Endnotes
    13. 8. The Fallout
      1. Buying Binge to Bust
      2. Homeownership Overreach
      3. Two Americas
      4. European Existentialism
      5. Dark Pessimism
      6. Endnotes
    14. 9. Getting Our Groove Back
      1. This Time Is Different
      2. Of Sharks and Black Swans
      3. Regulators and Lawyers
      4. Approaching the Fiscal Cliff
      5. Endnotes
    15. 10. Don’t Bet Against the United States
      1. Righting the Fiscal Ship
      2. Navigating the Monetary Shoals
      3. Getting Out of the Mortgage Business
      4. Where Will the Jobs Come From?
      5. Endnotes
    16. Index
    17. FT Press