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The End of Wall membrane Block is a blow-by-blow bank account of America's biggest financial collapse because the Great Depression. Pulling on 180 interviews, including sit-downs with top federal government officials and Wall membrane Block CEOs, Lowenstein tells, with grace, wit, and razor-sharp understanding, the full account of the finish of Wall Block as we recognized it. Displaying the qualities that made When Genius Failed a amazing classic of Wall membrane Street-his 6th sense for narrative drama and his unequaled ability to tell complicated financial experiences with techniques that resonate with the ordinary reader- Roger Lowenstein weaves a financial, monetary, and sociological thriller that indicts America for succumbing to the siren music of easy debt and speculative home loans.
The End of Wall membrane Block is rife with historical lessons and bursting with fast-paced action. Lowenstein presents his account with precisely etched, laserlike profiles of Angelo Mozilo, the Johnny Appleseed of subprime home loans who spreads dangerous loans across the landscape like outrageous crabapples, and goes to a damning explication of how rating agencies helped gift idea wrap faulty lending options in the guise of triple-A paper and a takedown of the academic formulas that-once again- proven the ruin of traders and bankers. Lowenstein excels with some searing profiles of banking CEOs, such as the ferretlike Dick Fuld of Lehman and the bloodless Jamie Dimon of JP Morgan, and of federal government representatives from the restless, deal-obsessed Hank Paulson and the overmatched Tim Geithner to the cerebral academic Ben Bernanke, who wanted to avoid a do it again of the one crisis he spent a lifetime endeavoring to understand-the Great Unhappiness.
Finally, we come to comprehend the majesty of Lowenstein's theme of liquidity and capital, which talks about the origins of the problems and that positions the collapse of 2008 as the best ever of Wall membrane Street's unlearned lessons. The End of Wall membrane Block will be essential reading once we work to identify the lessons of the market failure and learn to reb...
The End of Wall membrane Block is a blow-by-blow bank account of America's biggest financial collapse because the Great Depression. Pulling on 180 interviews, including sit-downs with top federal government officials and Wall membrane Block CEOs, Lowenstein tells, with grace, wit, and razor-sharp understanding, the full account of the finish of Wall Block as we recognized it. Displaying the qualities that made When Genius Failed a amazing classic of Wall membrane Street-his 6th sense for narrative drama and his unequaled ability to tell complicated financial experiences with techniques that resonate with the ordinary reader- Roger Lowenstein weaves a financial, monetary, and sociological thriller that indicts America for succumbing to the siren music of easy debt and speculative home loans.
The End of Wall membrane Block is rife with historical lessons and bursting with fast-paced action. Lowenstein presents his account with precisely etched, laserlike profiles of Angelo Mozilo, the Johnny Appleseed of subprime home loans who spreads dangerous loans across the landscape like outrageous crabapples, and goes to a damning explication of how rating agencies helped gift idea wrap faulty lending options in the guise of triple-A paper and a takedown of the academic formulas that-once again- proven the ruin of traders and bankers. Lowenstein excels with some searing profiles of banking CEOs, such as the ferretlike Dick Fuld of Lehman and the bloodless Jamie Dimon of JP Morgan, and of federal government representatives from the restless, deal-obsessed Hank Paulson and the overmatched Tim Geithner to the cerebral academic Ben Bernanke, who wanted to avoid a do it again of the one crisis he spent a lifetime endeavoring to understand-the Great Unhappiness.
Finally, we come to comprehend the majesty of Lowenstein's theme of liquidity and capital, which talks about the origins of the problems and that positions the collapse of 2008 as the best ever of Wall membrane Street's unlearned lessons. The End of Wall membrane Block will be essential reading once we work to identify the lessons of the market failure and learn to reb...
