The mortgage wars : inside Fannie Mae, big-money politics, and the collapse of the American dream / Timothy Howard.
Howard, Timothy (Business writer), author.
2014
HG2040.5.U5 H69 2014 (Mapit)
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Title
The mortgage wars : inside Fannie Mae, big-money politics, and the collapse of the American dream / Timothy Howard.
Author
Howard, Timothy (Business writer), author.
ISBN
9780071821094 hardcover alkaline paper
0071821090 hardcover alkaline paper
Published
New York : McGraw-Hill Education, [2014]
Language
English
Description
xvi, 288 pages ; 24 cm
Call Number
HG2040.5.U5 H69 2014
Dewey Decimal Classification
332.7/20973
Summary
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.
Bibliography, etc. Note
Includes bibliographical references and index.
Record Appears in
On-Campus Resources > Books
All Resources
Principal players in the mortgage wars story
The Mortgage Wars and the Financial Crisis. The financial market wildfire ; The largest credit market in the world.
Fannie Mae's Rise to Prominence. Birth, trial, and turnaround ; Managing risk ; The Volcker standard gives Fannie Mae an edge ; Fannie Mae's opponents change tactics ; Conflicts with fast-growing lenders.
The Fight for the Mortgage Market. A surprise from the Treasury Department ; Private-label mortgage-backed securities ; A gathering storm of opposition ; Fannie Mae tightens its disciplines ; Private label takes center stage ; A compromise attempt turns into full-scale war.
Countdown to the Meltdown. Allegations of fraud: the special examination ; Sorting out the facts ; Baseless demand, fateful results ; The market melts down: Fannie Mae is nationalized ; Aftermath.

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