Chain of Blame

Chain of Blame

How Wall Street Caused the Mortgage and Credit Crisis

Book - 2008
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An updated and revised look at the truth behind America's housing and mortgage bubbles

In the summer of 2007, the subprime empire that Wall Street had built all came crashing down. On average, fifty lenders a month were going bust-and the people responsible for the crisis included not just unregulated loan brokers and con artists, but also investment bankers and home loan institutions traditionally perceived as completely trustworthy.

Chain of Blame chronicles this incredible disaster, with a specific focus on the players who participated in such a fundamentally flawed fiasco. In it, authors Paul Muolo and Mathew Padilla reveal the truth behind how this crisis occurred, including what individuals and institutions were doing during this critical time, and who is ultimately responsible for what happened.

Discusses the latest revelations in the housing and mortgage crisis, including the SEC's charging of Angelo Mozilo Two well-regarded financial journalists familiar with the events that have taken place chronicle the crisis in detail, showing what happened as well as what lies ahead Discusses how the world's largest investment banks, homeowners, lenders, credit rating agencies, underwriters, and investors all became entangled in the subprime mess

Intriguing and informative, Chain of Blame is a compelling story of greed and avarice, one in which many are responsible, but few are willing to admit their mistakes.

Publisher: Hoboken, N.J. : Wiley, c2008
ISBN: 9780470292778
Branch Call Number: ANF 332.720973 MUO
Characteristics: xiii, 338 p. ; 24 cm
Additional Contributors: Padilla, Mathew


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Mar 05, 2014

An excellent book, and important to point out that ONLY one person was fired from Merrill Lynch for being honest! And ONLY one person was fired from Washington Mutual for being honest (Keysha Cooper). And how many were fired from Countrywide, JPMorgan Chase, Goldman Sachs, Morgan Stanley, Citigroup, Bank of Amerca, for being honest (ZERO?????)? I think you get the picture.

Apr 11, 2010

The authors did a fantastic job with this book: it is very informative and excellently researched--absolutely packed with insights and information!

Would I read this book again? No. I'd listen to the audiobook instead; maybe it would be easier to follow.

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