Shaky Ground: The Strange Saga of the U.S. Mortgage Giants
| Author | : | |
| Rating | : | 4.52 (617 Votes) |
| Asin | : | 0990976300 |
| Format Type | : | paperback |
| Number of Pages | : | 159 Pages |
| Publish Date | : | 2016-04-21 |
| Language | : | English |
DESCRIPTION:
By the end of the century, they had become extremely profitable and powerful companies, instrumental in putting millions of Americans in their homes. Fannie Mae and Freddie Mac were created by Congress to serve the American Dream of homeownership. But the current state of limbo is unsustainable.Based on comprehensive reporting and dozens of interviews, Shaky Ground by bestselling author Bethany McLean, chronicles the story of Fannie and Freddie seven years after the meltdown, and tells us why homeownership finance is now one of the biggest unsolved issues in today's global. Their profits are being redirected toward reducing the federal deficit, which leaves them with no buffer should they suffer lo
"Best Book Ever Read Because of Bonus Underlying Enlightenment of Our Political Machinery" according to Matt Hill. This would have to be one of the best books I've ever read. Not exactly for the reason you would think though. This book belongs in the hand of every teenager or adult that plans on being involved more in our political system (this should be everyone). The only way this whole saga could have continued for 7 years as of today (Happy Anniversary!), is because of a decayed political system we are in. So many things could be improved in our housing system, yet the politicians and special interest groups have to spend all their efforts fending each other off, instead of fixing the proble. "Congresses' continued reliance on consumer and mortgage debt as their favorite tool for so-called economic health" according to Greg S. Johnson. Too many details that lead nowhere. Concludes tat we are right back where we started in 2008, but we are ready knew that. In an awkward effort to be "non-partisan," she, in my opinion, failed to address Congresses' threat of a civil rights law suit against mortgage companies in the early 2000's and also, Congresses' continued reliance on consumer and mortgage debt as their favorite tool for so-called economic health. I had hope for more.. ""The Smartest Guy's In the Room" I was disappointed in this book which is the story of the" according to Raymond Arendt. After having read Bethany McClean's ;"The Smartest Guy's In the Room" I was disappointed in this book which is the story of the role ofFannie Mae and Freddie Mac in contributing to the Great Recession of 2007 Although it was informative, it certainly was nowhere near as captivating a story as the previous book, the story of the downfall of Enron.
Washington Post Notable Nonfiction Book of 2015Washington Post Nonfiction Bestseller"Bethany McLean has written an insightful guide to one of the fascinating true-financial-crime cases of our time."--Simon Johnson, The Washington Post"Bethany McLean romps through the well-intentioned founding of Fannie and Freddie, via their gradual corruption to the current unhappy limbo, with the government and hedge funds fighting over the scraps in the courtsMcLean deftly steers a sensible course through the competing claims."--Tom Braithwaite, Financial Times"An excellent new book that attempts to make sense of the senseless history of Fannie and Freddie."--Alan Murray, Fortune"In a short, lucid paperback (or e-book) from a new publishing arm of Columbia University, McLean explains how the topsy-turvy world of Fannie and Freddie came to be and why government control of them likely will limp along indefinitely as the major unresolved issue of the financial crisis."--USA Today"The latest very smart finance book by McLeanwho found a very good topic in our deeply flawed home mortgage system."-- The National Book Review"Readers of this maddening, sharp report will rightly wonder why Fannie Mae and Freddie Mac have been allowed to survive and why we can't do better."--Kirkus Reviews"McLean ably describes a situation where, seven years past the brink of economic collapse, Fannie and Freddie are severely undercapitalized, faced with investor lawsuits, and caught up in political infighting that prevents either comprehensive reform or their ultimate abolition." Publishers Weekly