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Ten Chapters The Ultimate Deception In Financial Engineering(1st Edition)
Authors:
Derrick Noe
Cover Type:Hardcover
Condition:Used
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ISBN: 3982507510, 978-3982507514
Book publisher: Derrick Noe (November 5, 2022)
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Book Summary: Ten Chapters critically reviews the Great Financial Crisis, questioning the widely accepted narrative capturing the worst financial meltdown and recession in 80 years. Particularly itchallenges the assumptions that the inflection point was a national real estate crisis, that the financial crisis was a catastrophe of global proportions, that hundreds of billions of dollars in taxpayer money bailed out Wall Street never to be recovered, and without governmental support Wall Street would have gone bankrupt. Empirical evidence traces the GFC back to the securitization wave of the 20th century, perillous product innovations that fueled the poorest of mortgage origination practices and the repackaging of subprime risk beyond recognition, finally the remarkable collective failure of the rating agencies to recognize the explosive risks of complex structured securities. Ten Chapters also traces the waves of uniquely and distinctly different developments before and during the crisis across Europe, India, China and East Asia.
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