Booked by HooksBookEvents: Wednesday, July 22, 2009
Book: Financial Shock
Author: Mark Zandi
Publisher: FT Press, 2009
About the Author – Dr. Mark Zandi is Chief Economist and co-founder of Moody’s Economy.com, an independent subsidiary of Moody’s that provides economic research and consulting services to businesses, governments and other institutions. His recent research has included: studying determinants of mortgage foreclosure and personal bankruptcy; analyzing economic impacts of tax and government spending policies; and assessing policy responses to bubbles in asset markets. Zandi holds a Ph.D. from the University of Pennsylvania, where he did research with Gerard Adams and Nobel Laureate Lawrence Klein; and a B.S. from Wharton. He appears regularly on ABC News, Wall Street Week, CNN, and CNBC.
About the Book – The subprime crisis and the global financial panic it triggered will impact every one of us profoundly, for years, and perhaps even decades. What happened? And how can we prevent it from happening again?
In Financial Shock, Revised and Expanded Edition, Dr. Mark Zandi answers these questions: thoroughly, carefully, and in plain English. This new edition has been systematically updated for the latest events, with insights into the dynamics of the worldwide Fall 2008 financial collapse, the freezing of credit markets, the extraordinary actions governments have taken in response, and the massive economic fallout. Zandi begins with a fast-paced “history” of the crisis: where it started, how it spread, and the damage it has caused.
Next, he illuminates its deepest causes, ranging from the psychology of homeownership to Alan Greenspan’s missteps, Internet technology to state-of-the-art financial engineering. After surveying the wreckage, Zandi previews the radically different financial system that is likely to emerge next, and offers more detailed and specific recommendations for policymakers and regulators. Along the way, readers will gain indispensable insights for protecting their own futures, managing their own investments, and navigating their organizations to safety.