- Category: Books » Business & Economics » Accounting - Financial
- Format: Hardcover Learn more about the Hardcover format using Tower WIKI.
- Publisher: Basic Books
- Number of Pages: 208
- ISBN: 0465018807
- WAPI (Tower ID): 113245590
- Release Date: May 25, 2009
- Average Customer Review: There are no customer reviews yet. Be the first to write a review!
- Tower.com Sales Rank: #6547 in Books (See Top 100 Books Bestsellers)
- #294 in Business & Economics (See Top 100 Business & Economics Bestsellers)
- #19 in Accounting - Financial (See Top 100 Accounting - Financial Bestsellers)
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Product DescriptionMore Books by Thomas Sowell (Author)Run a Quick Search on "The Housing Boom and Bust" by Thomas Sowell to Browse Related Products:Browse more products related to "The Housing Boom and Bust"Browse more products related to "Thomas Sowell"Publisher's noteThis is a plain-English explanation of how we got into the current economic disaster that developed out of the economics and politics of the housing boom and bust. The "creative" financing of home mortgages and the even more "creative" marketing of financial securities based on American mortgages to countries around the world, are part of the story of how a financial house of cards was built up--and then suddenly collapsed. The politics behind all this is another story full of strange twists. No punches are pulled when discussing politicians of either party, the financial dangers they created, or the distractions they created later to escape their own responsibility for what happened when the financial house of cards in the financial markets collapsed. What to do, now that we are in the midst of an economic disaster, is yet another story--one whose ending we do not yet know, but one whose outlines and implications are explored to reveal some surprising and sobering lessons. AnnotationThomas Sowell, one of the top economic minds of our time, explains the details of the mortgage loan collapse, the biggest financial crisis he has ever witnessed. According to Sowell, one of the most disturbing aspects of the mortgage disaster is that it was a systemic breakdown, rather than an anomaly. The questionable ethics which helped foster the creation of "zero-interest" mortgages clearly existed at multiple levels of the housing industry and economic sector, from the individual realtors pushing such fairy-tale financial arrangements to the politicians who ignored the early warning signs. Sowell dissects the collapse from multiple angles, assigning blame and, more importantly, providing details on what steps need to be taken to ensure that the mistakes of the past are not repeated. If You Enjoy "The Housing Boom and Bust (Hardcover)", May We Also Recommend:
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