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The Financial Crisis in Perspective (Collection)

Book Description

How the financial crisis really happened, and what it really meant: 3 books packed with lessons for investors and policymakers!

These three books offer unsurpassed insight into the causes and implications of the global financial crisis: information every investor and policy-maker needs to prepare for an extraordinarily uncertain future. In Financial Shock, Updated Edition, renowned economist Mark Zandi provides the most concise, lucid account of the economic, political, and regulatory causes of the collapse, plus new insights into the continuing impact of the Obama administration’s policies. Zandi doesn’t just illuminate the roles of mortgage lenders, investment bankers, speculators, regulators, and the Fed: he offers sensible recommendations for preventing the next collapse. In Extreme Money, best-selling author and global finance expert Satyajit Das reveals the spectacular, dangerous money games that are generating increasingly massive bubbles of fake growth, prosperity, and wealth, while endangering the jobs, possessions, and futures of everyone outside finance. Das explains how everything from home mortgages to climate change have become fully financialized… how “voodoo banking” keeps generating massive phony profits even now… and how a new generation of “Masters of the Universe” has come to own the world. Finally, in The Fearful Rise of Markets, top Financial Times global finance journalist John Authers reveals how the first truly global super bubble was inflated, and may now be inflating again. He illuminates the multiple roots of repeated financial crises, presenting a truly global view that avoids both oversimplification and ideology. Most valuable of all, Authers offers realistic solutions: for decision-makers who want to prevent disaster, and investors who want to survive it.

From world-renowned leaders and experts, including Dr. Mark Zandi, Satyajit Das, and John Authers

Table of Contents

  1. Title Page
  2. Copyright Page
  3. Contents
  4. Financial Shock (Updated Edition): Global Panic and Government Bailouts—How We Got Here andWhat Must Be Done to Fix It
    1. Title Page
    2. Copyright Page
    3. Dedication Page
    4. Acknowledgements
    5. About the Author
    6. Introduction
    7. 1. Subprime Précis
    8. 2. Sizing Up Subprime
    9. 3. Everyone Should Own a Home
    10. 4. Chairman Greenspan Counts on Housing
    11. 5. Global Money Men Want a Piece
    12. 6. Bad Lenders Drive Out the Good
    13. 7. Financial Engineers and Their Creations
    14. 8. Home Builders Run Aground
    15. 9. As the Regulatory Cycle Turns
    16. 10. Boom, Bubble, Bust, and Crash
    17. 11. Credit Crunch
    18. 12. Timid Policymakers Turn Bold
    19. 13. Economic Fallout
    20. 14. Back to the Future
    21. Endnotes
    22. Index
    23. Financial Times Press
  5. Extreme Money: Masters of the Universe and the Cult of Risk
    1. Title Page
    2. Copyright Page
    3. Praise for Extreme Money
    4. Praise for Traders, Guns & Money
    5. Dedication Page
    6. About the Author
    7. Prologue: Hubris
    8. Part I: Faith
      1. 1. Mirror of the Times
      2. 2. Money Changes Everything
      3. 3. Business of Business
      4. 4. Money for Sale
      5. 5. Yellow Brick Road
      6. 6. Money Honey
    9. Part II: Fundamentalism
      1. 7. Los Cee-Ca-Go Boys
      2. 8. False Gods, Fake Prophecies
    10. Part III: Alchemy
      1. 9. Learning to Love Debt
      2. 10. Private Vices
      3. 11. Dice with Debt
      4. 12. The Doomsday Debt Machine
      5. 13. Risk Supermarkets
      6. 14. Financial Arms Race
      7. 15. Woodstock for Hedge Funds
      8. 16. Minsky Machines
    11. Part IV: Oligarchy
      1. 17. War Games
      2. 18. Shell Games
      3. 19. Cult of Risk
      4. 20. Masters of the Universe
      5. 21. Financial Nihilism
    12. Part V: Cracks
      1. 22. Financial Gravity
      2. 23. Unusually Uncertain
    13. Epilogue: Nemesis
    14. Notes
    15. Select Bibliography
    16. Index
    17. Financial Times Press
  6. The Fearful Rise of Markets
    1. Title Page
    2. Copyright Page
    3. Dedication Page
    4. Acknowledgments
    5. About the Author
    6. Foreword
    7. The Fearful Rise of Markets: A Timeline
    8. Chapter 1. The Fearful Rise of Markets
    9. Part I. The Rise
      1. Chapter 2. Investment Becomes an Industry
      2. Chapter 3. Indexes and Efficient Markets
      3. Chapter 4. Money Markets Supplant Banks
      4. Chapter 5. From Gold Standard to Oil Standard
      5. Chapter 6. Emerging Markets
      6. Chapter 7. Junk Bonds
      7. Chapter 8. The Carry Trade
      8. Chapter 9. Foreign Exchange
      9. Chapter 10. Irrational Exuberance
      10. Chapter 11. Banks Too Big to Fail
      11. Chapter 12. Hedge Funds
      12. Chapter 13. Dot Coms and Cheap Money
      13. Chapter 14. BRICs
      14. Chapter 15. Commodities
      15. Chapter 16. Credit
    10. Part II. The Fall
      1. Chapter 17. Ending the Great Moderation
      2. Chapter 18. Quant Funds
      3. Chapter 19. Trust
      4. Chapter 20. Bank Runs
      5. Chapter 21. Bastille Day: Reflexive Markets
      6. Chapter 22. Lessons from Lehman
      7. Chapter 23. Politics and Institutions
      8. Chapter 24. The Paradox of Diversification
    11. Part III. The Fearful Rise
      1. Chapter 25. Decoupling
      2. Chapter 26. Banks Bounce
      3. Chapter 27. A New Bubble?
      4. Conclusion: 2010 and After
    12. Notes
    13. Select Bibliography
    14. Index
    15. Financial Times Press