Description: Subprime Nation Please note: this item is printed on demand and will take extra time before it can be dispatched to you (up to 20 working days). American Power, Global Capital, and the Housing Bubble Author(s): Herman M. Schwartz Format: Paperback Publisher: Cornell University Press, United States Imprint: Cornell University Press ISBN-13: 9780801475672, 978-0801475672 Synopsis In his exceedingly timely and innovative look at the ramifications of the collapse of the [url] housing market, Herman M. Schwartz makes the case that worldwide, [url] growth and power over the last twenty years has depended in large part on domestic housing markets. Mortgage-based securities attracted a cascade of overseas capital into the [url] economy. High levels of private home ownership, particularly in the United States and the United Kingdom, have helped pull in a disproportionately large share of world capital [url] events since mid-2008 have made clear, mortgage lenders became ever more eager to extend housing loans, for the more mortgage packages they securitized, the higher their profits. As a result, they were dangerously inventive in creating new mortgage products, notably adjustable-rate and subprime mortgages, to attract new, mainly first-time, buyers into the housing market. However, mortgage-based instruments work only when confidence in the mortgage system is maintained. Regulatory failures in the American S sector, the accounting crisis that led to the extinction of Arthur Andersen, and the subprime crisis that destroyed Lehman Brothers and Merrill Lynch and damaged many other big financial institutions have jeopardized a significant engine of economic growth. Schwartz concentrates on the impact of [url] regulatory failure on the international economy. He argues that the "local" problem of the housing crisis carries substantial and ongoing risks for [url] economic health, the continuing primacy of the [url] dollar in international financial circles, and [url] hegemony in the world system.
Price: 24.89 GBP
Location: Aldershot
End Time: 2025-01-14T15:56:54.000Z
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Book Title: Subprime Nation
Number of Pages: 280 Pages
Publication Name: Subprime Nation: American Power, Global Capital, and the Housing Bubble
Language: English
Publisher: Cornell University Press
Item Height: 235 mm
Subject: Economics
Publication Year: 2009
Type: Textbook
Author: Herman M. Schwartz
Item Width: 155 mm
Series: Cornell Studies in Money
Format: Paperback
