Shaky Ground - Couverture souple

McLean, Bethany

Couverture souple

ISBN 10 : 0990976300 ISBN 13 : 9780990976301

Editeur : Columbia Global Reports, 2015

Synopsis

Fannie Mae and Freddie Mac were created by Congress to serve the American Dream of homeownership. By the end of the century, they had become extremely profitable and powerful companies, instrumental in putting millions of Americans in their homes.

So why does the government now want them dead?

In 2008, the U.S. Treasury put Fannie and Freddie into a life-support state known as "conservatorship" to prevent their failure--and worldwide economic chaos. The two companies, which were always controversial, have become a battleground. Today, Fannie and Freddie are profitable again but still in conservatorship. Their profits are being redirected toward reducing the federal deficit, which leaves them with no buffer should they suffer losses again. China and Japan are big owners of Fannie and Freddie securities, and they want to ensure the safety of their investments--which helps explain why the government is at an impasse about what to do. But the current state of limbo is unsustainable.

Based on comprehensive reporting and dozens of interviews, Shaky Ground chronicles the story of Fannie and Freddie seven years after the meltdown, and tells us why homeownership finance is now one of the biggest unsolved issues in today's global economy--and why it must be placed on firmer ground.

A propos du livre

À propos de l'auteur

Bethany McLean is the co-author of the bestseller The Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of Enron with her Fortune colleague Peter Elkind. Her second book, which she co-authored with New York Times columnist Joe Nocera, is All the Devils are Here: The Hidden History of the Financial Crisis. She is a contributing editor at Vanity Fair, a columnist for Fortune.com and a contributor at CNBC. She lives in Chicago.

Détails de l'édition

• Éditeur: Columbia Global Reports
• Date d'édition: 2015
• Langue: anglais
• ISBN 10: 0990976300
• ISBN 13: 9780990976301
• Reliure: Broché
• Nombre de pages: 159
• Coordonnées du fabricant: non disponible
• Personne responsable: non disponible