Lost Decades

Lost Decades

The Making of America's Debt Crisis and the Long Recovery

Book - 2011
Average Rating:
Rate this:
1
Examines the role federal borrowing played in the economic collapse of 2008, describing the economic and political causes of the collapse, and discussing what the continuing impact of the debt and foreign borrowing will be on the United States in the twenty-first century.
Publisher: New York : W.W. Norton & Co., c2011.
Edition: 1st ed.
ISBN: 9780393076509
0393076504
Branch Call Number: 336.3435/CHINN
Characteristics: xvii, 284 p. : ill. ; 25 cm.
Additional Contributors: Frieden, Jeffry A.

Opinion

From the critics


Community Activity

Comment

Add a Comment

s
StarGladiator
Oct 31, 2013

This is, from a pure academic viewpoint (and I pity anyone who adopts such a POV) a reasonably good and well thought out book, and essentially on target. The authors are most correct in their major assertions, my criticisms would be in some details, but overall I find no fault with their major synopsis of the causes and outcomes of the meltdown and so-called recovery or rescue actions. Ultra-leveraging (super-sized debt) made many rich and richer, while bankrupting the financial system - - plus using structured finance loans (part of that ultra-leveraging just mentioned) for the private equity/leveraged buyout firms (Blackstone Group, Carlyle Group, Bain Capital, and many others) to do their destruction of companies and jobs, while creating further debt - - add to this their ultra-leveraged speculation of commodities and oil/energy, further exacerbating the meltdown, then their grand finale in global insurance swindles using naked swaps on the debt the created and profited from! And the debt-deleveraging (why they crave austerity for the rest of us) has just begun! An important note: when the authors mention the Markit Group, without mentioning that it was financed by JPMorgan Chase, Goldman Sachs, Citigroup and Bank of America, and also mention specific individuals without mentioning, say, that they are members of the du Pont family, it suggests either sloppy work, or purposeful lack of information. I state this as at the end, the authors suggest we are all responsible for the meltdown, or that nobody really is (my note: except for those multi-billionaires who greatly profited from it?).

Age

Add Age Suitability

There are no ages for this title yet.

Summary

Add a Summary

There are no summaries for this title yet.

Notices

Add Notices

There are no notices for this title yet.

Quotes

Add a Quote

There are no quotes for this title yet.

Explore Further

Browse by Call Number

Recommendations

Subject Headings

  Loading...

Find it at SDPL

  Loading...
[]
[]
To Top