The mortgage wars : inside Fannie Mae, big-money politics, and the collapse of the American dream / Timothy Howard.

The mortgage wars : inside Fannie Mae, big-money politics, and the collapse of the American dream / Timothy Howard.

9780071821094 hardcover alkaline paper
0071821090 hardcover alkaline paper

New York : McGraw-Hill Education, [2014]

English

xvi, 288 pages ; 24 cm

HG2040.5.U5 H69 2014

332.7/20973

This book is former Fannie Mae CFO's inside look at the war between the financial giants and government regulators. In this provocative true-life thriller he tells about the all-out fight for dominance of the mortgage industry, and how it nearly destroyed the global financial system. Many books have been written about the 2008 financial crisis, but they miss the biggest story of the meltdown: the battle between giant financial companies to dominate the $11 trillion mortgage market that almost destroyed the global financial system. For more than twenty years, until 2004, the author was Vice Chairman and Chief Financial Officer at the best-known of those companies, Fannie Mae, and he was in the middle of that fight. Here he explains how seemingly unrelated developments in banking regulation, housing policy, Wall Street financial innovation, and political lobbying all combined to wreak havoc on the American housing market and the world economy.

Includes bibliographical references and index.

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