Econned
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Econned
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Author : Yves Smith
language : en
Publisher: Macmillan + ORM
Release Date : 2010-02-19
Econned written by Yves Smith and has been published by Macmillan + ORM this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-02-19 with Business & Economics categories.
Why are we in such a financial mess today? There are lots of proximate causes: over-leverage, global imbalances, bad financial technology that lead to widespread underestimation of risk. But these are all symptoms. Until we isolate and tackle fundamental causes, we will fail to extirpate the disease. ECONned is the first book to examine the unquestioned role of economists as policy-makers, and how they helped create an unmitigated economic disaster. Here, Yves Smith looks at how economists in key policy positions put doctrine before hard evidence, ignoring the deteriorating conditions and rising dangers that eventually led them, and us, off the cliff and into financial meltdown. Intelligently written for the layman, Smith takes us on a terrifying investigation of the financial realm over the last twenty-five years of misrepresentations, naive interpretations of economic conditions, rationalizations of bad outcomes, and rejection of clear signs of growing instability. In eConned, author Yves Smith reveals: --why the measures taken by the Obama Administration are mere palliatives and are unlikely to pave the way for a solid recovery --how economists have come to play a profoundly anti-democratic role in policy --how financial models and concepts that were discredited more than thirty years ago are still widely used by banks, regulators, and investors --how management and employees of major financial firms looted them, enriching themselves and leaving the mess to taxpayers --how financial regulation enabled predatory behavior by Wall Street towards investors --how economics has no theory of financial systems, yet economists fearlessly prescribe how to manage them
Disordered Minds
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Author : Ian Hughes
language : en
Publisher: John Hunt Publishing
Release Date : 2018-09-28
Disordered Minds written by Ian Hughes and has been published by John Hunt Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-09-28 with Psychology categories.
Disordered Minds offers a compelling and timely account of the dangers posed by narcissistic leaders, and provides a stark warning that the conditions in which this psychopathy flourishes - extremes of social inequality and a culture of hyper-individualism - are the hallmarks of our present age. 'An excellent account of how malignant narcissism is evident in the lives of the great dictators, and how the conditions in which this psychopathy flourishes have returned to haunt us.' Dr Kieran Keohane, editor of The Social Pathologies of Contemporary Civilization
Econned
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Author :
language : en
Publisher:
Release Date : 2010
Econned written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.
Theft Of A Nation
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Author : Gregg Barak
language : en
Publisher: Bloomsbury Publishing PLC
Release Date : 2012-08-02
Theft Of A Nation written by Gregg Barak and has been published by Bloomsbury Publishing PLC this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-08-02 with Social Science categories.
Theft of a Nation presents a powerful criminological examination of Wall Street’s recent financial meltdown and its profound impact on the rest of the country. This provocative book asks why, if the actions of key players on Wall Street and in the government resulted in an economic downturn that harmed millions of Americans and destroyed capital worldwide, no one was held criminally liable for these actions. Author Gregg Barak provides a basic history of financial regulation and deregulation, as well as a primer on both securities fraud and mass victimization. Using key concepts in victimology and white collar crime, he explores the diverse ways civil and criminal law enforcement responded to the damaging behavior on Wall Street. The book also assesses Wall Street Financial Reform and the Consumer Protection Act of 2010, showing the ways that Americans may still be at risk. Theft of a Nation is the first comprehensive criminological investigation of the role of Wall Street and the government in the recent financial crisis, asking critical questions about who has been victimized and why.
The Great American Housing Bubble
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Author : Adam J. Levitin
language : en
Publisher: Harvard University Press
Release Date : 2020-06-09
The Great American Housing Bubble written by Adam J. Levitin and has been published by Harvard University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-06-09 with Business & Economics categories.
The definitive account of the housing bubble that caused the Great Recession—and earned Wall Street fantastic profits. The American housing bubble of the 2000s caused the worst global financial crisis since the Great Depression. In this definitive account, Adam Levitin and Susan Wachter pinpoint its source: the shift in mortgage financing from securitization by Fannie Mae and Freddie Mac to “private-label securitization” by Wall Street banks. This change set off a race to the bottom in mortgage underwriting standards, as banks competed in laxity to gain market share. The Great American Housing Bubble tells the story of the transformation of mortgage lending from a dysfunctional, local affair, featuring short-term, interest-only “bullet” loans, to a robust, national market based around the thirty-year fixed-rate mortgage, a uniquely American innovation that served as the foundation for the middle class. Levitin and Wachter show how Fannie and Freddie’s market power kept risk in check until 2003, when mortgage financing shifted sharply to private-label securitization, as lenders looked for a way to sustain lending volume following an unprecedented refinancing wave. Private-label securitization brought a return of bullet loans, which had lower initial payments—enabling borrowers to borrow more—but much greater back-loaded risks. These loans produced a vast oversupply of underpriced mortgage finance that drove up home prices unsustainably. When the bubble burst, it set off a destructive downward spiral of home prices and foreclosures. Levitin and Wachter propose a rebuild of the housing finance system that ensures the widespread availability of the thirty-year fixed-rate mortgage, while preventing underwriting competition and shifting risk away from the public to private investors.
Making The Progressive Case
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Author : David Coates
language : en
Publisher: Bloomsbury Publishing USA
Release Date : 2011-06-16
Making The Progressive Case written by David Coates and has been published by Bloomsbury Publishing USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-06-16 with Political Science categories.
The book presents the conservative and liberal arguments related to the current economic issues faced by the Obama administration, including market regulation and green economy.
Predator Nation
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Author : Charles H. Ferguson
language : en
Publisher: Crown Currency
Release Date : 2012-05-22
Predator Nation written by Charles H. Ferguson and has been published by Crown Currency this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-05-22 with Business & Economics categories.
Charles H. Ferguson, who electrified the world with his Oscar-winning documentary Inside Job, now explains how a predator elite took over the country, step by step, and he exposes the networks of academic, financial, and political influence, in all recent administrations, that prepared the predators’ path to conquest. Over the last several decades, the United States has undergone one of the most radical social and economic transformations in its history. · Finance has become America’s dominant industry, while manufacturing, even for high technology industries, has nearly disappeared. · The financial sector has become increasingly criminalized, with the widespread fraud that caused the housing bubble going completely unpunished. · Federal tax collections as a share of GDP are at their lowest level in sixty years, with the wealthy and highly profitable corporations enjoying the greatest tax reductions. · Most shockingly, the United States, so long the beacon of opportunity for the ambitious poor, has become one of the world’s most unequal and unfair societies. If you’re smart and a hard worker, but your parents aren’t rich, you’re now better off being born in Munich, Germany or in Singapore than in Cleveland, Ohio or New York. This radical shift did not happen by accident. Ferguson shows how, since the Reagan administration in the 1980s, both major political parties have become captives of the moneyed elite. It was the Clinton administration that dismantled the regulatory controls that protected the average citizen from avaricious financiers. It was the Bush team that destroyed the federal revenue base with its grotesquely skewed tax cuts for the rich. And it is the Obama White House that has allowed financial criminals to continue to operate unchecked, even after supposed “reforms” installed after the collapse of 2008. Predator Nation reveals how once-revered figures like Alan Greenspan and Larry Summers became mere courtiers to the elite. Based on many newly released court filings, it details the extent of the crimes—there is no other word—committed in the frenzied chase for wealth that caused the financial crisis. And, finally, it lays out a plan of action for how we might take back our country and the American dream.
Zombie Economics
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Author : John Quiggin
language : en
Publisher: Princeton University Press
Release Date : 2012-05-21
Zombie Economics written by John Quiggin and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-05-21 with Business & Economics categories.
In the graveyard of economic ideology, dead ideas still stalk the land. The recent financial crisis laid bare many of the assumptions behind market liberalism--the theory that market-based solutions are always best, regardless of the problem. For decades, their advocates dominated mainstream economics, and their influence created a system where an unthinking faith in markets led many to view speculative investments as fundamentally safe. The crisis seemed to have killed off these ideas, but they still live on in the minds of many--members of the public, commentators, politicians, economists, and even those charged with cleaning up the mess. In Zombie Economics, John Quiggin explains how these dead ideas still walk among us--and why we must find a way to kill them once and for all if we are to avoid an even bigger financial crisis in the future. Zombie Economics takes the reader through the origins, consequences, and implosion of a system of ideas whose time has come and gone. These beliefs--that deregulation had conquered the financial cycle, that markets were always the best judge of value, that policies designed to benefit the rich made everyone better off--brought us to the brink of disaster once before, and their persistent hold on many threatens to do so again. Because these ideas will never die unless there is an alternative, Zombie Economics also looks ahead at what could replace market liberalism, arguing that a simple return to traditional Keynesian economics and the politics of the welfare state will not be enough--either to kill dead ideas, or prevent future crises. In a new chapter, Quiggin brings the book up to date with a discussion of the re-emergence of pre-Keynesian ideas about austerity and balanced budgets as a response to recession.
Extreme Money
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Author : Satyajit Das
language : en
Publisher: FT Press
Release Date : 2011-08-04
Extreme Money written by Satyajit Das and has been published by FT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-08-04 with Business & Economics categories.
The human race created money and finance: then, our inventions recreated us. In Extreme Money, best-selling author and global finance expert Satyajit Das tells how this happened and what it means. 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 virtually everyone outside finance. "...virtually in a category of its own — part history, part book of financial quotations, part cautionary tale, part textbook. It contains some of the clearest charts about risk transfer you will find anywhere. ...Others have laid out the dire consequences of financialisation ("the conversion of everything into monetary form", in Das’s phrase), but few have done it with a wider or more entertaining range of references...[Extreme Money] does... reach an important, if worrying, conclusion: financialisation may be too deep-rooted to be torn out. As Das puts it — characteristically borrowing a line from a movie, Inception — "the hardest virus to kill is an idea". -Andrew Hill "Eclectic Guide to the Excesses of the Crisis" Financial Times (August 17, 2011) Extreme Money named to the longlist for the 2011 FT and Goldman Sachs Business Book of the Year award.