Items related to Who Really Drove the Economy Into the Ditch?
Unlike other books pertaining to the financial crisis of 2007/8, the author presents a wide variety of factors — including some that originated in the governmental sector and others that originated in the private sector. The tone is conversational. The book includes several subjects that are almost completely ignored in the rest of the literature. These subjects include the detrimental impact of automated underwriting systems that were heavily promoted by Fannie Mae and Freddie Mac. Drive-by house appraisals. The impact of hundreds of local housing programs funded by HUD, state governments, and housing advocacy groups.; False delinquency statistics put forth by Fannie Mae and Freddie Mac.& “Silent second;” and “piggyback;” loans.
"synopsis" may belong to another edition of this title.
About the Author:
Joseph N. Fried, CPA, MBA, has over 30 years experience performing certified financial statement audits for nonprofit organizations and HUD-approved mortgage companies. He is presently the director of the Public Program Testing Organization, an Ohio-based nonprofit organization dedicated to identifying waste and abuse in the government and nonprofit sectors. This is Joe's third book with Algora.
Review:
Joe Fried tells the story in a straightforward style so clear you will wonder why you haven t heard these facts before. Why did lenders begin to lend to unqualified borrowers? That level of stupidity, says Fried, requires mentoring, careful guidance and an act of Congress.
-- Peter J. Wallison, Arthur F. Burns Fellow in Financial Policy Studies, American Enterprise Institute, Cochair, Financial Reform Task Force, 2009, Member, Financial Crisis Inquiry Commission, 2009, --1989-present, Executive Vice President and Chief Credit Officer of Fannie Mae, 1987-89.
'An impressive research job ... materially adds to the body of research into the role of government affordable housing policy in the mortgage crisis.' -- Edward J. Pinto, Resident Fellow, American Enterprise Institute Consultant to the Housing-Finance Industry, --1989-present, Executive Vice President and Chief Credit Officer of Fannie Mae, 1987-89.
'An impressive research job ... materially adds to the body of research into the role of government affordable housing policy in the mortgage crisis.' -- Edward J. Pinto, Resident Fellow, American Enterprise Institute Consultant to the Housing-Finance Industry, --1989-present, Executive Vice President and Chief Credit Officer of Fannie Mae, 1987-89.
'An impressive research job ... materially adds to the body of research into the role of government affordable housing policy in the mortgage crisis.' -- Edward J. Pinto, Resident Fellow, American Enterprise Institute Consultant to the Housing-Finance Industry, --1989 present, Executive Vice President and Chief Credit Officer of Fannie Mae, 1987-89.
-- Peter J. Wallison, Arthur F. Burns Fellow in Financial Policy Studies, American Enterprise Institute, Cochair, Financial Reform Task Force, 2009, Member, Financial Crisis Inquiry Commission, 2009, --1989-present, Executive Vice President and Chief Credit Officer of Fannie Mae, 1987-89.
'An impressive research job ... materially adds to the body of research into the role of government affordable housing policy in the mortgage crisis.' -- Edward J. Pinto, Resident Fellow, American Enterprise Institute Consultant to the Housing-Finance Industry, --1989-present, Executive Vice President and Chief Credit Officer of Fannie Mae, 1987-89.
'An impressive research job ... materially adds to the body of research into the role of government affordable housing policy in the mortgage crisis.' -- Edward J. Pinto, Resident Fellow, American Enterprise Institute Consultant to the Housing-Finance Industry, --1989-present, Executive Vice President and Chief Credit Officer of Fannie Mae, 1987-89.
'An impressive research job ... materially adds to the body of research into the role of government affordable housing policy in the mortgage crisis.' -- Edward J. Pinto, Resident Fellow, American Enterprise Institute Consultant to the Housing-Finance Industry, --1989 present, Executive Vice President and Chief Credit Officer of Fannie Mae, 1987-89.
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- PublisherAlgora Publishing
- Publication date2012
- ISBN 10 0875869424
- ISBN 13 9780875869421
- BindingPaperback
- Number of pages342
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Who Really Drove the Economy into the Ditch?
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Book Description Paperback. Condition: Brand New. 342 pages. 9.00x0.86x6.00 inches. In Stock. Seller Inventory # zk0875869424
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