And Then the Roof Caved in

And Then the Roof Caved in

How Wall Street's Greed and Stupidity Brought Capitalism to Its Knees

Book - 2009
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Explains the events of the previous seven years that planted the seeds for the worst economic crisis since the Great Depression beginning in 2001, when the Federal Reserve embarked on an unprecedented effort to help the economy recover from the attacks of 9/11 by sending interest rates to all time lows.
Publisher: Hoboken, N.J. : John Wiley & Sons, c2009
ISBN: 9780470474235
Characteristics: xiii, 192 p. : ill. ; 24 cm


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Jun 05, 2013

This book falls into the pure propaganda flotsam category - - atrocious doesn't even begin to describe this Faber character's hackneyed piece of junk! "..that unwittingly conspired to insure lending standards were abandoned in the head long rush for profits.." - - There was NO "unwittingly conspired" nonsense afoot, the criminal conspiracy among the bankers and rating agencies was known among them. Read the FCIC report if you doubt this. The economic meltdown can be easily summed up: ultra-leveraging (really breaking many, many laws to begin with), with ultra-leveraged speculation (again with breaking many laws) constituted the setup, the endgame was the greatest insurance swindle of all time; an estimated $600 billion to $700 billion of debt which had trillions of dollars worth of credit default swaps ("unregulated insurance) taken out on them - - an unlimited number of swaps could be sold against bonds, and so forth - - with the payout of $600 trillion plus!


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