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And Then the Roof Caved in: How Wall Street's Greed and Stupidity Brought Capitalism to Its Knees
by
David Faber
CNBC's David Faber takes an in-depth look at the causes and consequences of the recent financial collapse
"And Then the Roof Caved In" lays bare the truth of the credit crisis, whose defining emotion at every turn has been greed, and whose defining failure is the complicity of the U.S. government in letting that greed rule the day. Written by CNBC's David Faber, t
...moreHardcover, 192 pages
Published
June 29th 2009
by John Wiley & Sons
(first published 2009)
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‘No-one seemed to ask what would happen if housing prices started to fall.’
This book, by CNBC’s David Faber, provides an analysis of the global financial crisis that commenced in 2007. The cause of this crisis, as written by Mr Faber, is a combination of greed and regulatory failure.
David Faber traces the lineage of the subprime mortgage industry, and tracks it back to the aftermath of the September 11 2001 attacks when interest rates were lowered to try to help the Am...more
This book, by CNBC’s David Faber, provides an analysis of the global financial crisis that commenced in 2007. The cause of this crisis, as written by Mr Faber, is a combination of greed and regulatory failure.
David Faber traces the lineage of the subprime mortgage industry, and tracks it back to the aftermath of the September 11 2001 attacks when interest rates were lowered to try to help the Am...more
This is an excellent exploration of a very bad time. For its brevity, it has plenty of insights. David Faber does more with explaining synthetic credit default obligations (CDOs) than anyone else I’ve read, in book form or online. And I like to think I’ve read an awful lot since September 18, 2008 – the day the free market ended.
He is best when he is digging and reporting and trying, somehow, to explain inordinately complex derivative schemes, schemes about which former Chairman o...more
He is best when he is digging and reporting and trying, somehow, to explain inordinately complex derivative schemes, schemes about which former Chairman o...more
What I found most interesting was Kyle Bass’s attempt to be forthright with Bear Stearns to alert them and other investment and financial institutions of their cataclysmic collision path with sure disaster. I guess to them Bass must have resembled some overly angst person with apocalyptic views about the world of finance. Bass had done his research, presented the facts, and still these institutions turned a blind eye and gave him the cold shoulder. They were so “high” on making money that the...more
It may be because I'd already read THE BIG SHORT and THE GREATEST TRADE EVER, but as I listened to this book, I didn't really think I was learning much. This could have been my problem. Maybe I was distracted, but it doesn't add much where those better recognized books on the crisis leave off.
A failure at multiple levels in oversight. Fannie and Freddie accting problems----withdrawal from mortgage mart---lowered standards ---no accountability--decreased redlining--political motives--9/11--CDO--CDS--ninja loans
Excellent book by CNBC anchor. If this doesn't convince you that those on Wall Street need a helluva lot more regulation, then you're not using the brain God gave you.
This was a very readable discussion of our financial crisis by an excellent author. Kudos for making a complex subject understandable for the general public.
Written in a manner that provided insight and clarity. Easy read. An excellant analysis of the problem supported by good intelligence and research.
A lot of repeat information from the CNBC show. A comprehensive story of what happened to not America's economy, but the world's economy and why.
Each finance book I read gets me a little closer to understanding risk and the collapse of the financial system.
Good read. Faber does well at the tough job of explaining just what those bankers built that caused so much trouble.
It's pretty amazing what these guys got away with for so long.
It's pretty amazing what these guys got away with for so long.
Brian
marked it as to-read
I am hoping to get to this book after I finish reading Seven Years in Tibet
relatively short, but detailed enough not to lose anything.
Extremely clear, and easy to follow.
Laura
added it
Easiest-to-understand book I've read about what happened on Wall Street and in the housing market.
Good overview of the mortgage mess and how it lead to the last recession. Not a ton of depth, but it's written in such a way as to be accessible to anyone - even someone with no understanding of finance or economics.
Pretty concise book on how liar loans fueled by wall street greed led to the destruction of the world economy and the current despair that most of the world is in today.
Simple explanation of what went wrong with the economy recently
Great insight into the finacial relm of the downfall of the market.
"Greed is good" - so it's been said. Greed creates economic efficiency, but when there's no control or governance chaos ensues. This book clearly demonstrates what happens when logic and common sense are ignored in the pursuit of the "American Dream". David Faber explains this disaster so that the average reader may readily comprehend, which is something that no one who was involved in this mess could do.
I read this book soon after reading Harry Markopolos' "No O...more
I read this book soon after reading Harry Markopolos' "No O...more
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Elizabeth
marked it as to-read
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