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The Financial Crisis Inquiry Report: Final Report of the National Commission on the Causes of the Financial and Economic Crisis in the United States
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The Financial Crisis Inquiry Report: Final Report of the National Commission on the Causes of the Financial and Economic Crisis in the United States

3.88  ·  Rating details ·  151 ratings  ·  20 reviews
The definitive report on what caused America's economic meltdown and who was responsibleThe financial and economic crisis has touched the lives of millions of Americans who have lost their jobs and their homes, but many have little understanding of how it happened. Now, in this very accessible report, readers can get the facts. Formed in May 2009, the Financial Crisis Inqu ...more
Paperback, 576 pages
Published January 27th 2011 by PublicAffairs (first published December 15th 2010)
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3.88  · 
Rating details
 ·  151 ratings  ·  20 reviews


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Peter
Apr 06, 2018 rated it really liked it
The report itself is a nice, comprehensive examination of what happened with the crisis, focusing on many of the antecedents (stretching all the way back to accumulated sovereign wealth in the late 1990s and Clinton-era housing policy). It includes lots of first-person perspectives, which is also informative.

The main report (presumably drafted by the Democratic majority of the Commission) has two dissents. The first is by three Commission Republicans, and their point is that maybe the many, many
...more
Beth Gordon
Apr 12, 2011 rated it liked it
I enjoy economics and real estate, and this book was even too tedious for me. 550 pages in 8 point font that can be summarized with the statement, "Everyone was greedy." There's a lot of blame to go around; the crisis was caused by a number of interrelated events with greed as the cornerstone. While it is interesting reading despite being tedious, I'm positive that the reader could get the same information from a few journal articles.
Hiro
Mar 03, 2011 rated it liked it
The book is the official report produced by the Financial Crisis Inquiry Commission on the financial crisis of 2007-2008. The book primarily provides a chronological history before, during, and briefly after the crisis. There are three different reports: one adopted by the majority i.e. 6 members of the 10 member commission which were chosen by the "Democratic leadership of Congress", which constitutes most of the book, and two separate dissenting reports adopted by 3 members and 1 member of the ...more
Jan Bos
Lengthy official report on the financial crisis. It recounts the unfolding of events, which brought back many memories. It provides a generally balance view on the event and it's many causes with one massive exeception: the role of the GSEs (mainly Fannie Mae and Freddy Mac).

As pointed out in the dissent by Peter Wallison (just read this dissent if you don't have time for all 662 pages), by mid 2008 out of 54 million mortgages in the US financial system, no less than 27 million were subprime or
...more
Paul W
Jan 17, 2016 rated it it was amazing
Shelves: business, finance
The back cover notes that the report "exposes the facts, unravels myths and draws striking conclusions" about "the most devastating financial and economic crisis since the Great Depression." All that in a succinct 450 pages including over 2250 footnotes!
The book is gripping reading - a litany of missed opportunities to prevent the crisis. But sadly many of those pointing out the problems were pilloried, ridiculed or fired. Too many people turned a blind eye to outright fraud in mortgage applica
...more
Thomas Bowskill
Sep 05, 2013 rated it liked it
Shelves: economics
The report itself takes a very in-depth look at the events that happened during the financial crisis; it falls into the trap, however, of skimming over the possible causes of the crisis -- which should have been their main agenda -- and blaming most the issues on poor regulation and greed. There's a lot to be said about the factors that they do blame for causing the crisis (many are true), but the emphasis they placed on expanding on these points was to the detriment of their research into the o ...more
Christopher
Apr 11, 2012 rated it really liked it
A well written book with fluent prose. It provides information on the historical decisions that laid the ground for the onslaught of the financial crisis, points out those responsible and attempts to describe the inter-relation between them.

No easy bogeymen are used - but the ideology that advocates for unregulated and unfettered markets is strongly criticised, though no easy answers are given to the rebuttal that the private sector will always be one step ahead of the public sector in figuring
...more
Christian
Well written report of the events of 2007 - 2008 with some follow through into 2010. The leadup to the crisis is well documented and the thoughts of participants with regard to the bankruptcy of Lehman is well chronicled. The report is written for a general audience and non-quantitative readers.

My main gripe is that the footnotes are not hyperlinked to their appropriate citations for the Kindle edition. Also, the graphs provided in the AEI dissenting statement are not formatted for optimum viewi
...more
Lowell Nelson
Mar 01, 2015 rated it it was ok
Not as readable as the 9/11 report (which I recommend) and doesn't go a good job of explaining the arcane technical details. A bit too detailed at times, I did a lot of skimming. I did learn some things about the financial crisis, but I hope this is not the definitive history. Recommended only for financial news junkies!
Jason
Jan 27, 2011 rated it really liked it  ·  review of another edition
I FINALLY finished this thing! it starts off like a dime store detective novel. it becomes dry in the center but finishes strong. The dissenting opinion at the end is a great counterpoint that lends balance and perspective to the financial industry bashing that permeates most of the book. A must read!
John
Jan 28, 2011 is currently reading it
Necessary reading for those interested in digging deeper into the archeology of the financial crisis...that I'm begging to see as the "tipping point" for the end of the era of American economic super power status. We're not Greece...we're us.
Steve Buckler
You won't understand it :-)

Read this before seeing The Big Short, it will help you understand the movie. Not for folks with IQs in double digits. If you can understand it, it will piss you off :-)
John Stieven
Apr 13, 2016 rated it liked it
A smart person learns from their mistakes -- a wise person learns from the mistakes of others! I hope many people read this so we don't make the same mistakes.
Andrew Rossol
Jun 20, 2016 rated it it was amazing  ·  review of another edition
As others have said, lengthy and diving in more technical understanding than other reports on the crisis cover while still providing a large-scope view of events as they unfold.
Ed
May 29, 2011 rated it it was amazing  ·  review of another edition
This is excellent. Select chapters from this book ought to be required reading for high-schoolers.
Thom Dunn
An honest first appraisal. Opening chapter with the commissions several conclusions should be required high school reading.
Dani Ollé
Sep 24, 2013 rated it liked it
Very readable, explains clearly many complex concepts. Excessively long but informative
Thomas Gross
Aug 26, 2012 rated it it was amazing
A must-read, and very readable. This report explains a lot of what happened and is invaluable to an intelligent understanding of the Financial free-fall.
Susan
rated it really liked it
May 25, 2011
Alexander Allen
rated it it was amazing
Feb 13, 2019
John Schneider
rated it it was ok
Jan 02, 2012
Bryan Chasko
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Jul 12, 2013
Jonathan Jones
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Aug 06, 2014
Steve
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Jan 29, 2012
Corey Tellez
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Jan 31, 2011
BUTEYA KIMAIGA
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Jul 12, 2015
Middlethought
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Aug 05, 2017
Hayford
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Dec 07, 2014
Kerry Kay
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Jan 08, 2017
Roger
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Nov 16, 2014
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