Bibliograph

Hidden in plain sight, what really caused the world's worst financial crisis and why it could happen again, Peter J. Wallison

Type

Label

Hidden in plain sight, what really caused the world's worst financial crisis and why it could happen again, Peter J. Wallison

Language

eng

Bibliography note

Includes bibliographical references (pages 363-392) and index

Illustrations

charts

Index

index present

Literary Form

non fiction

Main title

Hidden in plain sight

Nature of contents

bibliography

Oclc number

879329299

Responsibility statement

Peter J. Wallison

Sub title

what really caused the world's worst financial crisis and why it could happen again

Table Of Contents

The basics. Introduction : What really caused the world's worst financial crisis and why it could happen again ; The difference between prime and nontraditional mortgages : the importance of sound underwriting standards ; The Financial Crisis Inquiry Commission report and other explanations for the crisis : why conventional explanations for the crisis are inadequate ; A short history of housing finance in the U.S. : how and why housing finance was substantially changed in 1992 -- Government housing policies take effect. HUD's central role : how HUD used the affordable-housing goals to reduce underwriting standards ; The decline in underwriting standards : how the affordable-housing goals forced an increased in nontraditional mortgages ; Force fed : why the affordable-housing goals, and not market share or profit, were the sole reason the GSEs acquired nontraditional mortgages ; Going viral : why and how reduced underwriting standards spread to the wider market -- The financial crisis and its accelerants. The great housing price bubble : how loosened underwriting standards stimulated its growth ; Flying blind into a storm : how the GSEs' failure to disclose their acquisition of nontraditional mortgages magnified the crisis ; 31 million nontraditional mortgages precipitate a crisis : why even government=backed mortgage securities were contributors ; Fair-value accounting scales up the crisis : how mark-to-market accounting made financial firms look weak or unstable -- From bad to worse. From bad to worse : how government blunders turned a mortgage meltdown into an investor panic and financial crisis ; The false narrative and the future : why the failure to understand the causes of the crisis may lead to another

resource.variantTitle

What really caused the world's worst financial crisis and why it could happen again

Classification