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Life Inside the Great Mortgage Meltdown

Book - 2009/06/15
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Traces a journalist's victimization beside millions of Americans who were seduced by the promises of easy mortgages, describing his near-bankruptcy and his observations about questionable lenders, their Wall Street supporters, and Washington policymakers.
Publisher: New York : W.W. Norton, 2009/06/15
ISBN: 9780393067941
0393067947
Branch Call Number: 332.7209 AND
Characteristics: 220 p.

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StarGladiator
Mar 05, 2014

A reframing of reality in the form of a mea culpa from a NY Times economics reporter. (McClatchy was too wise to ever hire this dud!). Sorry, Andrews, but fraud accounting, securitizing everything and filing it under off-balance-sheet accounting at SIVs and SPVs (offshore financial constructs) so as to remove it from the banks' books, and therefore allow evermore loan and proprietary trading business, doesn't cut it. Just as the author's personal reframing doesn't cut it.

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