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eText: 
ISBN-13 9780132615778ISBN-10 0132615770
Print: 
ISBN-10 0137016638ISBN-13 9780137016631
Author(s): Mark Zandi
Publisher: FT Press
Copyright year: © 2009 Pages: 304
Description

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.

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