And Then the Roof Caved In lays bare the truth of thecredit crisis, whose defining emotion at every turn has been greed,and whose defining failure is the complicity of the U.S. governmentin letting that greed rule the day. Written by CNBC's David Faber,this book painstakingly details the truth of what really happenedwith compelling characters who offer their first-hand accounts ofwhat they did and why they did it.
Page by page, Faber explains the events of the previous sevenyears that planted the seeds for the worst economic crisis sincethe Great Depression. He begins in 2001, when the Federal Reserveembarked on an unprecedented effort to help the economy recoverfrom the attacks of 9/11 by sending interest rates to all timelows. Faber also gives you an up-close look at where the crisis wasincubated and unleashed upon the world-Wall Street-and introducesyou to insiders from investment banks and mortgage lenders toratings agencies, that unwittingly conspired to insure lendingstandards were abandoned in the head long rush for profits.Based on two years of research, this book provides deepbackground into the current credit crisisOffers the insights of experienced professionals-from AlanGreenspan to prominent bankers and regulators-who were on the frontlinesCreated by David Faber, the face of morning business news onCNBC, and host of the network's award winning documentaries
From regulators who tried to stop this problem before it swungout of control to hedge fund managers who correctly foresaw thecoming housing crash and profited from it, And Then the RoofCaved In shows you how the crisis we currently face came tobe.
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