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The Resource Days of slaughter : inside the fall of Freddie Mac and why it could happen again, Susan Wharton Gates

Days of slaughter : inside the fall of Freddie Mac and why it could happen again, Susan Wharton Gates

Label
Days of slaughter : inside the fall of Freddie Mac and why it could happen again
Title
Days of slaughter
Title remainder
inside the fall of Freddie Mac and why it could happen again
Statement of responsibility
Susan Wharton Gates
Creator
Author
Subject
Genre
Language
eng
Summary
  • "In September 2008, beset by mounting losses on high-risk mortgages and mortgage securities, the Federal Home Loan Mortgage Corporation teetered on the brink of insolvency. Fearing that confidence in the housing market would collapse completely if Freddie Mac and its competitor Fannie Mae failed, the US government made the difficult decision to place the two firms into conservatorship, taking control away from shareholders. Although the taxpayer commitment of hundreds of billions was meant to stabilize the housing finance system, Freddie's fall at the start of the financial crisis set off shockwaves around the world. In Days of Slaughter, Susan Wharton Gates, a former 19-year Freddie Mac employee and vice president of public policy, provides a vivid eyewitness account of the competing economic and political forces that led to massive losses for shareholders, investors, homeowners--and taxpayers. With a keen eye to the policy landscape, Gates relates the fateful decisions that led to Freddie Mac's downfall and desperate rescue. She also examines today's worrisome headlines about potential future bailouts, the uneven housing recovery, and stymied congressional reform efforts. Throughout the book, Gates argues convincingly that policymakers will be unable to safely reform the massive housing finance system that currently rests squarely on taxpayer shoulders without addressing deeper issues of ideology, moral hazard, and interest group politics. The first book to tell the story of Freddie Mac from an insider perspective--while casting a prophetic eye to the future--this first-hand account of housing policies, complex financial transactions, and the crazy quilt of federal and state actors involved in the Great Recession is a must-read. A cautionary tale of failed policies and corporate mismanagement that compellingly addresses previously unexplored issues of political ideology, organizational dynamics, and ethics, Days of Slaughter will appeal to readers everywhere who want a fuller explanation of what went awry in the US housing market"--
  • "Days of Slaughter: The Fall of Freddie Mac and Why It Could Happen Again is the untold story of the steady financial and ethical unwinding of Freddie Mac, one of two key government-sponsored enterprises that failed in the wake of the unprecedented collapse of the housing market in 2008. A former 19-year employee and VP of public policy, Gates provides an eyewitness account of the competing economic and political forces that led to the government takeover of the housing finance industry, and relates those fateful decisions to today's worrisome headlines about the possibility of a second Freddie Mac bailout, softening housing markets, and stymied congressional reform efforts. Gates argues that, without addressing deeper issues of ideology, moral hazard, and interest-group politics, policymakers will not be able to reform the massive housing finance system that currently rests on taxpayer support in the absence of private capital. While there have been a number of books written on the financial crisis, not one has been solely focused on Freddie Mac, and none has had the benefit of an insider-employee perspective. In addition to providing a readable account of relevant housing policies, complex financial transactions, and the crazy quilt of federal and state actors, Gates addresses previously unexplored issues of political ideology, organizational theory, and ethics. A cautionary tale of ethical collapse, the book will find a home in academia, ranging from business schools to schools of public policy"--
Summary
"Susan Wharton Gates, a former 19-year Freddie Mac employee and vice president of public policy, provides a vivid eyewitness account of the competing economic and political forces that led to massive losses for shareholders, investors, homeowners—and taxpayers."--Provided by the publisher
Writing style
Assigning source
  • Provided by publisher
  • Provided by publisher
http://library.link/vocab/ext/novelist/bookUI
10559991
Cataloging source
DLC
Dewey number
332.7/220973
Index
index present
LC call number
HG2040.5.U5
LC item number
G38 2017
Literary form
non fiction
Nature of contents
bibliography
http://library.link/vocab/resourcePreferred
True
Target audience
adult
http://bibfra.me/vocab/lite/titleRemainder
inside the fall of Freddie MAC and why it could happen again
Label
Days of slaughter : inside the fall of Freddie Mac and why it could happen again, Susan Wharton Gates
Instantiates
Publication
Copyright
Bibliography note
Includes bibliographical references (pages 257-278) and index
Carrier category
volume
Carrier category code
nc
Carrier MARC source
rdacarrier
Content category
text
Content type code
txt
Content type MARC source
rdacontent
Contents
Prologue : acknowledging the obvious -- Reckoning day -- Homeownership : dream or nightmare? -- Securitization breakdown -- Charter confusion -- Affordable housing -- Subprime semantics -- Political capture -- Who's ultimately responsible? -- Scandal(s) -- Battle for responsible credit leadership -- One tough bill -- Stand up and say -- The unraveling -- Sad good-byes -- Housing's future -- Wherefore ethics?
Control code
5869808
Dimensions
24 cm
Extent
xii, 286 pages
Isbn
9781421421940
Isbn Type
(ebook)
Lccn
2016024508
Media category
unmediated
Media MARC source
rdamedia
Media type code
n
Other control number
40026968826
System control number
  • (OCoLC)ocn961409946
  • (OCoLC)961409946
Label
Days of slaughter : inside the fall of Freddie Mac and why it could happen again, Susan Wharton Gates
Publication
Copyright
Bibliography note
Includes bibliographical references (pages 257-278) and index
Carrier category
volume
Carrier category code
nc
Carrier MARC source
rdacarrier
Content category
text
Content type code
txt
Content type MARC source
rdacontent
Contents
Prologue : acknowledging the obvious -- Reckoning day -- Homeownership : dream or nightmare? -- Securitization breakdown -- Charter confusion -- Affordable housing -- Subprime semantics -- Political capture -- Who's ultimately responsible? -- Scandal(s) -- Battle for responsible credit leadership -- One tough bill -- Stand up and say -- The unraveling -- Sad good-byes -- Housing's future -- Wherefore ethics?
Control code
5869808
Dimensions
24 cm
Extent
xii, 286 pages
Isbn
9781421421940
Isbn Type
(ebook)
Lccn
2016024508
Media category
unmediated
Media MARC source
rdamedia
Media type code
n
Other control number
40026968826
System control number
  • (OCoLC)ocn961409946
  • (OCoLC)961409946

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