| |  | Books : Chain of Blame: How Wall Street Caused the Mortgage and Credit Crisis |  | | | | | | | | | |
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Binding: Hardcover
Dewey Decimal Number: 332.720973
EAN: 9780470292778
ISBN: 0470292776
Label: Wiley
Manufacturer: Wiley
Number Of Items: 1
Number Of Pages: 352
Publication Date: July 08, 2008
Publisher: Wiley
Sales Rank: 5653
Studio: Wiley
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Editorial Review:
Product Description:
In the summer of 2007, the subprime empire that Wall Street had built all came crashing down. On average, fifty lenders a month were going bust-and the people responsible for the crisis included not just unregulated loan brokers andcon artists, but also investment bankers and home loan institutions traditionally perceived as completely trustworthy.
Chain of Blame chronicles this incredible disaster, with a specific focus on the players who participated in such a fundamentally flawed fiasco. Authors Paul Muolo and Mathew Padilla, well-regarded journalists for National Mortgage News and the Orange County Register respectively, reveal the truth behind how this crisis occurred, what individuals and institutions-from lenders and brokers to some of the biggest investment banks in the world-were doing during this critical time, and who is ultimately responsible for what happened.
Customer Reviews Average Rating: 
Rating:  - You wanted to know
This book tells it like it is.It's clear, well ordered, and very readable.But it's a little scary to realize how greed can control a country like ours.
Rating:  - An easy to read explanation of the Mortgage crisis;needs some editing though
This book clearly spells out what went wrong to precipitate the mortgage crisis that catapulted the financial markets into a global meltdown.The book uses simple language to describe complex concepts, which is very helpful to the financial novice like myself.In this sense, this book is wonderful.
However, the book is way too long.Some whole paragraphs are repeated almost verbatim in different chapters.Each paragraph chronicles the life and times of another major mortgage company. ... Read More
Rating:  - Pleanty of blame to go around..
This book was an easy read. I like the way the authors tried to keep it simple, which must've been a challenge. This whole crisis and why it happened, is not that simple to explain, so the average person, who's not in the world of high finance can understand. Muolo and Padilla did a good job breaking it down for us; exposing the culrpits involved and tried to give us an idea of what these guys were thinking. Obviously, they all swallowed that line from the movie Wall Street, "Greed is good", and paid ... Read More
Rating: - So that's how it happened...
Until reading this book, it was difficult to see how bad home loans could bring down Wall Street. In an entertaining read, Muolo and Padilla tell the story.
Rating: - Furious after reading
This book in great detail tells the tale of the subprime bottom feeders and their links to equally greedy and bottom feeders on Wall Street. It's easy to read, and you start to understand how these loans were made-- quickly and without much regard to whether people could actually repay them. I would have liked to see the "chain" completed, however. We don't hear much about the home buyers and what they did or what happened to them--were they all deadbeats, as some say, or hapless naifs? And, at the other ... Read More
Chain of Blame: How Wall Street Caused the Mortgage and Credit Crisis | | | |
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