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  <title><![CDATA[Financial Shock: A 360º Look at the Subprime Mortgage Implosion, and How to Avoid the Next Financial Crisis]]></title>
  <isbn><![CDATA[0137142900]]></isbn>
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  <description><![CDATA[The subprime financial crisis is the decade's #1 financial story. What happened? How did it occur? And how can we prevent similar crises from happening again? Dr. Mark Zandi answers all these critical questions - systematically, carefully, and in plain English. Zandi begins with a fast-paced &quot;history&quot; of the crisis: where it started, how it spread, and where the fallout has landed. Next, he illuminates its deepest causes, ranging from the psychology of homeownership to Alan Greenspan's missteps. You'll watch the &quot;flippers&quot; at work and the real estate agents who cheered them on. You'll learn how Internet technology and access to global capital transformed mortgage lending, helping irresponsible lenders &quot;drive out&quot; good ones. Zandi demystifies the complex financial engineering that enabled lenders to hide growing risks...reveals how rating agencies relied on poor data and naïve assumptions to approve risky instruments...shows how global investors eagerly bought in, despite key warning signs. You'll discover how homebuilders contributed to the crisis, and how flummoxed regulators and policymakers failed to prevent it. Most important, Zandi previews tomorrow's financial shocks, offering indispensable advice for everyone they will impact: investors who must recognize emerging bubbles, policymakers who must improve oversight and citizens who must reduce their risks, so they can survive whatever comes next.]]></description>
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  <original_title>Financial Shock: A 360&#186; Look at the Subprime Mortgage Implosion, and How to Avoid the Next Financial Crisis</original_title>
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  <title>
    <![CDATA[Financial Shock: A 360º Look at the Subprime Mortgage Implosion, and How to Avoid the Next Financial Crisis]]>
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    <![CDATA[The subprime financial crisis is the decade's #1 financial story. What happened? How did it occur? And how can we prevent similar crises from happening again? Dr. Mark Zandi answers all these critical questions - systematically, carefully, and in plain English. Zandi begins with a fast-paced &quot;history&quot; of the crisis: where it started, how it spread, and where the fallout has landed. Next, he illuminates its deepest causes, ranging from the psychology of homeownership to Alan Greenspan's missteps. You'll watch the &quot;flippers&quot; at work and the real estate agents who cheered them on. You'll learn how Internet technology and access to global capital transformed mortgage lending, helping irresponsible lenders &quot;drive out&quot; good ones. Zandi demystifies the complex financial engineering that enabled lenders to hide growing risks...reveals how rating agencies relied on poor data and naïve assumptions to approve risky instruments...shows how global investors eagerly bought in, despite key warning signs. You'll discover how homebuilders contributed to the crisis, and how flummoxed regulators and policymakers failed to prevent it. Most important, Zandi previews tomorrow's financial shocks, offering indispensable advice for everyone they will impact: investors who must recognize emerging bubbles, policymakers who must improve oversight and citizens who must reduce their risks, so they can survive whatever comes next.]]>
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  <date_added>Sat Jan 31 02:28:34 -0800 2009</date_added>
  <date_updated>Sat Jan 31 02:36:59 -0800 2009</date_updated>
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    <body><![CDATA[A little hard (for me) to follow, and to some extent OBE (overtaken by events), as evidenced by his claim near the end that the worst was over, but fairly readable summary of events leading up to current economic disaster (to use Pres. Obama's term from yesterday).<br/><br/>In hindsight it all loo...<a href="http://www.goodreads.com/review/show/44932691">more...</a>]]></body>
    
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      <review>
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    <name><![CDATA[Michelle]]></name>
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  <title>
    <![CDATA[Financial Shock: A 360º Look at the Subprime Mortgage Implosion, and How to Avoid the Next Financial Crisis]]>
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  <average_rating>3.38</average_rating>
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    <![CDATA[The subprime financial crisis is the decade's #1 financial story. What happened? How did it occur? And how can we prevent similar crises from happening again? Dr. Mark Zandi answers all these critical questions - systematically, carefully, and in plain English. Zandi begins with a fast-paced &quot;history&quot; of the crisis: where it started, how it spread, and where the fallout has landed. Next, he illuminates its deepest causes, ranging from the psychology of homeownership to Alan Greenspan's missteps. You'll watch the &quot;flippers&quot; at work and the real estate agents who cheered them on. You'll learn how Internet technology and access to global capital transformed mortgage lending, helping irresponsible lenders &quot;drive out&quot; good ones. Zandi demystifies the complex financial engineering that enabled lenders to hide growing risks...reveals how rating agencies relied on poor data and naïve assumptions to approve risky instruments...shows how global investors eagerly bought in, despite key warning signs. You'll discover how homebuilders contributed to the crisis, and how flummoxed regulators and policymakers failed to prevent it. Most important, Zandi previews tomorrow's financial shocks, offering indispensable advice for everyone they will impact: investors who must recognize emerging bubbles, policymakers who must improve oversight and citizens who must reduce their risks, so they can survive whatever comes next.]]>
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    <rating>4</rating>
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  <read_at>Sun Jul 12 00:00:00 -0700 2009</read_at>
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  <date_updated>Mon Jul 13 22:12:44 -0700 2009</date_updated>
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    <body><![CDATA[This is a very well written book.  I have a mortgage background and have been following any number of articles, interactives and tutorials since the current Financial Crisis began.  It was good to see the same concepts I have learned about in other places reinforced and explained here.  Zandi takes ...<a href="http://www.goodreads.com/review/show/62652565">more...</a>]]></body>
    
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      <review>
  <id>31922902</id>
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    <name><![CDATA[Janet]]></name>
    <location><![CDATA[Salt Lake City, UT]]></location>
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  <title>
    <![CDATA[Financial Shock: A 360º Look at the Subprime Mortgage Implosion, and How to Avoid the Next Financial Crisis]]>
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  <average_rating>3.38</average_rating>
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  <description>
    <![CDATA[The subprime financial crisis is the decade's #1 financial story. What happened? How did it occur? And how can we prevent similar crises from happening again? Dr. Mark Zandi answers all these critical questions - systematically, carefully, and in plain English. Zandi begins with a fast-paced &quot;history&quot; of the crisis: where it started, how it spread, and where the fallout has landed. Next, he illuminates its deepest causes, ranging from the psychology of homeownership to Alan Greenspan's missteps. You'll watch the &quot;flippers&quot; at work and the real estate agents who cheered them on. You'll learn how Internet technology and access to global capital transformed mortgage lending, helping irresponsible lenders &quot;drive out&quot; good ones. Zandi demystifies the complex financial engineering that enabled lenders to hide growing risks...reveals how rating agencies relied on poor data and naïve assumptions to approve risky instruments...shows how global investors eagerly bought in, despite key warning signs. You'll discover how homebuilders contributed to the crisis, and how flummoxed regulators and policymakers failed to prevent it. Most important, Zandi previews tomorrow's financial shocks, offering indispensable advice for everyone they will impact: investors who must recognize emerging bubbles, policymakers who must improve oversight and citizens who must reduce their risks, so they can survive whatever comes next.]]>
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    <rating>3</rating>
  <votes>1</votes>
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  <date_added>Wed Sep 03 12:24:15 -0700 2008</date_added>
  <date_updated>Wed Sep 03 12:24:15 -0700 2008</date_updated>
  <read_count></read_count>
    <body><![CDATA[This is a wonderfully understandable description and explanation for the subprime mortgage crisis and the imploding credit market.]]></body>
    
  <url><![CDATA[http://www.goodreads.com/review/show/31922902]]></url>
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</review>
      <review>
  <id>49896706</id>
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    <name><![CDATA[Judith]]></name>
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  <title>
    <![CDATA[Financial Shock: A 360º Look at the Subprime Mortgage Implosion, and How to Avoid the Next Financial Crisis]]>
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  <average_rating>3.38</average_rating>
  <ratings_count>21</ratings_count>
  <description>
    <![CDATA[The subprime financial crisis is the decade's #1 financial story. What happened? How did it occur? And how can we prevent similar crises from happening again? Dr. Mark Zandi answers all these critical questions - systematically, carefully, and in plain English. Zandi begins with a fast-paced &quot;history&quot; of the crisis: where it started, how it spread, and where the fallout has landed. Next, he illuminates its deepest causes, ranging from the psychology of homeownership to Alan Greenspan's missteps. You'll watch the &quot;flippers&quot; at work and the real estate agents who cheered them on. You'll learn how Internet technology and access to global capital transformed mortgage lending, helping irresponsible lenders &quot;drive out&quot; good ones. Zandi demystifies the complex financial engineering that enabled lenders to hide growing risks...reveals how rating agencies relied on poor data and naïve assumptions to approve risky instruments...shows how global investors eagerly bought in, despite key warning signs. You'll discover how homebuilders contributed to the crisis, and how flummoxed regulators and policymakers failed to prevent it. Most important, Zandi previews tomorrow's financial shocks, offering indispensable advice for everyone they will impact: investors who must recognize emerging bubbles, policymakers who must improve oversight and citizens who must reduce their risks, so they can survive whatever comes next.]]>
  </description>
  <published>2008</published>
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    <rating>4</rating>
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  <recommended_by><![CDATA[]]></recommended_by>
  <read_at>Fri Mar 20 00:00:00 -0700 2009</read_at>
  <date_added>Fri Mar 20 14:56:06 -0700 2009</date_added>
  <date_updated>Fri Apr 03 12:55:11 -0700 2009</date_updated>
  <read_count></read_count>
    <body><![CDATA[I thought this was a great overview of the roots of the crisis.  It's probably best for those who have a little bit of experience reading about finance, whether in the news or elsewhere.  I did think Zandi did a good job at explaining most things in layperson-friendly terms, but it could be better. ...<a href="http://www.goodreads.com/review/show/49896706">more...</a>]]></body>
    
  <url><![CDATA[http://www.goodreads.com/review/show/49896706]]></url>
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</review>
      <review>
  <id>45140542</id>
    <user>
    <id>1041716</id>
    <name><![CDATA[Michael]]></name>
    <location><![CDATA[The United States]]></location>
    <link><![CDATA[http://www.goodreads.com/user/show/1041716-michael]]></link>
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  <title>
    <![CDATA[Financial Shock: A 360º Look at the Subprime Mortgage Implosion, and How to Avoid the Next Financial Crisis]]>
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  <average_rating>3.38</average_rating>
  <ratings_count>21</ratings_count>
  <description>
    <![CDATA[The subprime financial crisis is the decade's #1 financial story. What happened? How did it occur? And how can we prevent similar crises from happening again? Dr. Mark Zandi answers all these critical questions - systematically, carefully, and in plain English. Zandi begins with a fast-paced &quot;history&quot; of the crisis: where it started, how it spread, and where the fallout has landed. Next, he illuminates its deepest causes, ranging from the psychology of homeownership to Alan Greenspan's missteps. You'll watch the &quot;flippers&quot; at work and the real estate agents who cheered them on. You'll learn how Internet technology and access to global capital transformed mortgage lending, helping irresponsible lenders &quot;drive out&quot; good ones. Zandi demystifies the complex financial engineering that enabled lenders to hide growing risks...reveals how rating agencies relied on poor data and naïve assumptions to approve risky instruments...shows how global investors eagerly bought in, despite key warning signs. You'll discover how homebuilders contributed to the crisis, and how flummoxed regulators and policymakers failed to prevent it. Most important, Zandi previews tomorrow's financial shocks, offering indispensable advice for everyone they will impact: investors who must recognize emerging bubbles, policymakers who must improve oversight and citizens who must reduce their risks, so they can survive whatever comes next.]]>
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    <rating>2</rating>
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  <read_at>Mon Feb 02 00:00:00 -0800 2009</read_at>
  <date_added>Mon Feb 02 09:00:14 -0800 2009</date_added>
  <date_updated>Mon Feb 02 09:01:42 -0800 2009</date_updated>
  <read_count></read_count>
    <body><![CDATA[The NY Times rated this the top financial book of 2008. Even though I (sort of) work in real estate, it's a bit over my head. I need a book that defines terms like credit-default swap rather than assuming I know what they mean and how they came to exist. Any recommendations? ]]></body>
    
  <url><![CDATA[http://www.goodreads.com/review/show/45140542]]></url>
  <link><![CDATA[http://www.goodreads.com/review/show/45140542]]></link>
</review>
      <review>
  <id>66044967</id>
    <user>
    <id>2592140</id>
    <name><![CDATA[Nlausier]]></name>
    <location><![CDATA[Saint Petersburg, FL]]></location>
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    <![CDATA[Financial Shock: A 360º Look at the Subprime Mortgage Implosion, and How to Avoid the Next Financial Crisis]]>
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  <average_rating>3.38</average_rating>
  <ratings_count>21</ratings_count>
  <description>
    <![CDATA[The subprime financial crisis is the decade's #1 financial story. What happened? How did it occur? And how can we prevent similar crises from happening again? Dr. Mark Zandi answers all these critical questions - systematically, carefully, and in plain English. Zandi begins with a fast-paced &quot;history&quot; of the crisis: where it started, how it spread, and where the fallout has landed. Next, he illuminates its deepest causes, ranging from the psychology of homeownership to Alan Greenspan's missteps. You'll watch the &quot;flippers&quot; at work and the real estate agents who cheered them on. You'll learn how Internet technology and access to global capital transformed mortgage lending, helping irresponsible lenders &quot;drive out&quot; good ones. Zandi demystifies the complex financial engineering that enabled lenders to hide growing risks...reveals how rating agencies relied on poor data and naïve assumptions to approve risky instruments...shows how global investors eagerly bought in, despite key warning signs. You'll discover how homebuilders contributed to the crisis, and how flummoxed regulators and policymakers failed to prevent it. Most important, Zandi previews tomorrow's financial shocks, offering indispensable advice for everyone they will impact: investors who must recognize emerging bubbles, policymakers who must improve oversight and citizens who must reduce their risks, so they can survive whatever comes next.]]>
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  <read_at>Mon Oct 13 00:00:00 -0700 2008</read_at>
  <date_added>Mon Aug 03 14:41:53 -0700 2009</date_added>
  <date_updated>Tue Aug 04 12:42:11 -0700 2009</date_updated>
  <read_count></read_count>
    <body><![CDATA[This book really gives the history behind the financial breakdown in Sept. 2007. If you are looking for detail on how the market was impacted and exactly what impacted the market this book is pretty good. It gets dense but it does a good job explaining the topics.<br/><br/><br/>]]></body>
    
  <url><![CDATA[http://www.goodreads.com/review/show/66044967]]></url>
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  <title>
    <![CDATA[Financial Shock: A 360º Look at the Subprime Mortgage Implosion, and How to Avoid the Next Financial Crisis]]>
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  <average_rating>3.38</average_rating>
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    <![CDATA[The subprime financial crisis is the decade's #1 financial story. What happened? How did it occur? And how can we prevent similar crises from happening again? Dr. Mark Zandi answers all these critical questions - systematically, carefully, and in plain English. Zandi begins with a fast-paced &quot;history&quot; of the crisis: where it started, how it spread, and where the fallout has landed. Next, he illuminates its deepest causes, ranging from the psychology of homeownership to Alan Greenspan's missteps. You'll watch the &quot;flippers&quot; at work and the real estate agents who cheered them on. You'll learn how Internet technology and access to global capital transformed mortgage lending, helping irresponsible lenders &quot;drive out&quot; good ones. Zandi demystifies the complex financial engineering that enabled lenders to hide growing risks...reveals how rating agencies relied on poor data and naïve assumptions to approve risky instruments...shows how global investors eagerly bought in, despite key warning signs. You'll discover how homebuilders contributed to the crisis, and how flummoxed regulators and policymakers failed to prevent it. Most important, Zandi previews tomorrow's financial shocks, offering indispensable advice for everyone they will impact: investors who must recognize emerging bubbles, policymakers who must improve oversight and citizens who must reduce their risks, so they can survive whatever comes next.]]>
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    <rating>2</rating>
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  <read_at>Sun Feb 01 00:00:00 -0800 2009</read_at>
  <date_added>Thu Aug 27 12:06:23 -0700 2009</date_added>
  <date_updated>Thu Aug 27 12:08:56 -0700 2009</date_updated>
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    <body><![CDATA[Not memorable, but I made a note that chapter 7 is worth reading (I just don’t remember what Chapter 7 is about).]]></body>
    
  <url><![CDATA[http://www.goodreads.com/review/show/69111098]]></url>
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      <review>
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    <![CDATA[Financial Shock: A 360º Look at the Subprime Mortgage Implosion, and How to Avoid the Next Financial Crisis]]>
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  <average_rating>3.38</average_rating>
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    <![CDATA[The subprime financial crisis is the decade's #1 financial story. What happened? How did it occur? And how can we prevent similar crises from happening again? Dr. Mark Zandi answers all these critical questions - systematically, carefully, and in plain English. Zandi begins with a fast-paced &quot;history&quot; of the crisis: where it started, how it spread, and where the fallout has landed. Next, he illuminates its deepest causes, ranging from the psychology of homeownership to Alan Greenspan's missteps. You'll watch the &quot;flippers&quot; at work and the real estate agents who cheered them on. You'll learn how Internet technology and access to global capital transformed mortgage lending, helping irresponsible lenders &quot;drive out&quot; good ones. Zandi demystifies the complex financial engineering that enabled lenders to hide growing risks...reveals how rating agencies relied on poor data and naïve assumptions to approve risky instruments...shows how global investors eagerly bought in, despite key warning signs. You'll discover how homebuilders contributed to the crisis, and how flummoxed regulators and policymakers failed to prevent it. Most important, Zandi previews tomorrow's financial shocks, offering indispensable advice for everyone they will impact: investors who must recognize emerging bubbles, policymakers who must improve oversight and citizens who must reduce their risks, so they can survive whatever comes next.]]>
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    <rating>3</rating>
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  <read_at>Sun Mar 08 00:00:00 -0800 2009</read_at>
  <date_added>Wed Mar 11 18:48:51 -0700 2009</date_added>
  <date_updated>Wed Mar 11 18:50:03 -0700 2009</date_updated>
  <read_count></read_count>
    <body><![CDATA[Good on the problem - not so much on the remedy]]></body>
    
  <url><![CDATA[http://www.goodreads.com/review/show/48982891]]></url>
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      <review>
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    <![CDATA[Financial Shock: A 360º Look at the Subprime Mortgage Implosion, and How to Avoid the Next Financial Crisis]]>
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    <![CDATA[The subprime financial crisis is the decade's #1 financial story. What happened? How did it occur? And how can we prevent similar crises from happening again? Dr. Mark Zandi answers all these critical questions - systematically, carefully, and in plain English. Zandi begins with a fast-paced &quot;history&quot; of the crisis: where it started, how it spread, and where the fallout has landed. Next, he illuminates its deepest causes, ranging from the psychology of homeownership to Alan Greenspan's missteps. You'll watch the &quot;flippers&quot; at work and the real estate agents who cheered them on. You'll learn how Internet technology and access to global capital transformed mortgage lending, helping irresponsible lenders &quot;drive out&quot; good ones. Zandi demystifies the complex financial engineering that enabled lenders to hide growing risks...reveals how rating agencies relied on poor data and naïve assumptions to approve risky instruments...shows how global investors eagerly bought in, despite key warning signs. You'll discover how homebuilders contributed to the crisis, and how flummoxed regulators and policymakers failed to prevent it. Most important, Zandi previews tomorrow's financial shocks, offering indispensable advice for everyone they will impact: investors who must recognize emerging bubbles, policymakers who must improve oversight and citizens who must reduce their risks, so they can survive whatever comes next.]]>
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    <![CDATA[Financial Shock: A 360º Look at the Subprime Mortgage Implosion, and How to Avoid the Next Financial Crisis]]>
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    <![CDATA[The subprime financial crisis is the decade's #1 financial story. What happened? How did it occur? And how can we prevent similar crises from happening again? Dr. Mark Zandi answers all these critical questions - systematically, carefully, and in plain English. Zandi begins with a fast-paced &quot;history&quot; of the crisis: where it started, how it spread, and where the fallout has landed. Next, he illuminates its deepest causes, ranging from the psychology of homeownership to Alan Greenspan's missteps. You'll watch the &quot;flippers&quot; at work and the real estate agents who cheered them on. You'll learn how Internet technology and access to global capital transformed mortgage lending, helping irresponsible lenders &quot;drive out&quot; good ones. Zandi demystifies the complex financial engineering that enabled lenders to hide growing risks...reveals how rating agencies relied on poor data and naïve assumptions to approve risky instruments...shows how global investors eagerly bought in, despite key warning signs. You'll discover how homebuilders contributed to the crisis, and how flummoxed regulators and policymakers failed to prevent it. Most important, Zandi previews tomorrow's financial shocks, offering indispensable advice for everyone they will impact: investors who must recognize emerging bubbles, policymakers who must improve oversight and citizens who must reduce their risks, so they can survive whatever comes next.]]>
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    <![CDATA[Financial Shock: A 360º Look at the Subprime Mortgage Implosion, and How to Avoid the Next Financial Crisis]]>
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  <average_rating>3.38</average_rating>
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    <![CDATA[The subprime financial crisis is the decade's #1 financial story. What happened? How did it occur? And how can we prevent similar crises from happening again? Dr. Mark Zandi answers all these critical questions - systematically, carefully, and in plain English. Zandi begins with a fast-paced &quot;history&quot; of the crisis: where it started, how it spread, and where the fallout has landed. Next, he illuminates its deepest causes, ranging from the psychology of homeownership to Alan Greenspan's missteps. You'll watch the &quot;flippers&quot; at work and the real estate agents who cheered them on. You'll learn how Internet technology and access to global capital transformed mortgage lending, helping irresponsible lenders &quot;drive out&quot; good ones. Zandi demystifies the complex financial engineering that enabled lenders to hide growing risks...reveals how rating agencies relied on poor data and naïve assumptions to approve risky instruments...shows how global investors eagerly bought in, despite key warning signs. You'll discover how homebuilders contributed to the crisis, and how flummoxed regulators and policymakers failed to prevent it. Most important, Zandi previews tomorrow's financial shocks, offering indispensable advice for everyone they will impact: investors who must recognize emerging bubbles, policymakers who must improve oversight and citizens who must reduce their risks, so they can survive whatever comes next.]]>
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    <![CDATA[Financial Shock: A 360º Look at the Subprime Mortgage Implosion, and How to Avoid the Next Financial Crisis]]>
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    <![CDATA[The subprime financial crisis is the decade's #1 financial story. What happened? How did it occur? And how can we prevent similar crises from happening again? Dr. Mark Zandi answers all these critical questions - systematically, carefully, and in plain English. Zandi begins with a fast-paced &quot;history&quot; of the crisis: where it started, how it spread, and where the fallout has landed. Next, he illuminates its deepest causes, ranging from the psychology of homeownership to Alan Greenspan's missteps. You'll watch the &quot;flippers&quot; at work and the real estate agents who cheered them on. You'll learn how Internet technology and access to global capital transformed mortgage lending, helping irresponsible lenders &quot;drive out&quot; good ones. Zandi demystifies the complex financial engineering that enabled lenders to hide growing risks...reveals how rating agencies relied on poor data and naïve assumptions to approve risky instruments...shows how global investors eagerly bought in, despite key warning signs. You'll discover how homebuilders contributed to the crisis, and how flummoxed regulators and policymakers failed to prevent it. Most important, Zandi previews tomorrow's financial shocks, offering indispensable advice for everyone they will impact: investors who must recognize emerging bubbles, policymakers who must improve oversight and citizens who must reduce their risks, so they can survive whatever comes next.]]>
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  <average_rating>3.38</average_rating>
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    <![CDATA[The subprime financial crisis is the decade's #1 financial story. What happened? How did it occur? And how can we prevent similar crises from happening again? Dr. Mark Zandi answers all these critical questions - systematically, carefully, and in plain English. Zandi begins with a fast-paced &quot;history&quot; of the crisis: where it started, how it spread, and where the fallout has landed. Next, he illuminates its deepest causes, ranging from the psychology of homeownership to Alan Greenspan's missteps. You'll watch the &quot;flippers&quot; at work and the real estate agents who cheered them on. You'll learn how Internet technology and access to global capital transformed mortgage lending, helping irresponsible lenders &quot;drive out&quot; good ones. Zandi demystifies the complex financial engineering that enabled lenders to hide growing risks...reveals how rating agencies relied on poor data and naïve assumptions to approve risky instruments...shows how global investors eagerly bought in, despite key warning signs. You'll discover how homebuilders contributed to the crisis, and how flummoxed regulators and policymakers failed to prevent it. Most important, Zandi previews tomorrow's financial shocks, offering indispensable advice for everyone they will impact: investors who must recognize emerging bubbles, policymakers who must improve oversight and citizens who must reduce their risks, so they can survive whatever comes next.]]>
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