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A carregar... Busted: Life Inside the Great Mortgage Meltdown (2009)por Edmund L. Andrews
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Business.
Nonfiction.
HTML: Veteran New York Times economics reporter Edmund L. Andrews was intimately aware of the dangers posed by easy mortgages from fast-buck lenders. But, eager to buy a home and start a new life, he gave in to temptation and began a surreal adventure into the mortgage mayhem that nearly wrecked our economy. Busted weaves together the author's own ride to the edge of bankruptcy with the tragicomic stories of his lenders, the Wall Street pros behind them, and the policymakers in Washington who were oblivious until it was too late. The story takes Andrews to the offices of Alan Greenspan, the mansions of subprime-mortgage millionaires in southern California, a despondent deal makers' convention in Las Vegas, and Wall Street. Rich with on-the-ground reporting, Busted is a darkly humorous exploration of the cynicism and self-destructive judgment that led to America's biggest economic calamity in generations. .Não foram encontradas descrições de bibliotecas. |
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Google Books — A carregar... GénerosSistema Decimal de Melvil (DDC)332.7Social sciences Economics Finance Credit; credit systemClassificação da Biblioteca do Congresso dos EUA (LCC)AvaliaçãoMédia:
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Andrews has also come under criticism for not disclosing in the book that his new wife had declared bankruptcy before they got married, which might be related to her—and his!—attitudes towards money as their problems built. They bought their house so that they’d have a big enough place for their combined families, but he was still paying so much alimony and she wasn’t getting the court-ordered child support, so his income didn’t match his actual ability to pay on the new mortgage; and there their troubles began. His personal story is interwoven with an account of how the mortgage crisis built and broke, but if you’ve been reading about this in the papers for a while there’s nothing new here. There is a point at the end where he recounts the evidence that subprime lenders targeted minorities, but he presents the “nondiscrimination” story that minorities were just riskier as about equally plausible—until he meets two (white) women who argue that they got worse loans because of their gender; one of them had essentially the same economic profile as he did and got her loan in the same area at the same time, but got a much, much worse loan, and his eyes were opened to the existence of bias! Well, as they say, let’s not focus on his lateness to the party and be glad that he showed up at all, I guess. ( )