Guaranteed to fail : Fannie Mae, Freddie Mac, and the debacle of mortgage finance / Viral V. Acharya ... [et al.].
Contributor(s): Acharya, Viral V
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Material type: 
TextPublisher: Princeton : Princeton University Press, c2011Bibliography: Includes bibliographical references and index.Description: x, 222 p. : ill. ; 23 cm.ISBN: 9780691150789 (hbk. : alk. paper); 0691150788 (hbk. : alk. paper); 9781400838097 (e-book); 1400838096 (e-book).Subject(s): Freddie Mac (Firm) | Federal National Mortgage Association | Mortgage loans -- Government policy -- United States | Housing -- United States -- Finance | Business failures -- United States -- History -- 21st century | Financial crises -- United States -- History -- 21st centuryDDC classification: 332.7/20973 Other classification: 85.30 | Item type | Current library | Collection | Call number | Status | Date due | Barcode | |
|---|---|---|---|---|---|---|---|
| Two Weeks | Davenport Library Circulating Collection | Print-Circulating | 332.7209 G931 2011 (Browse shelf(Opens below)) | Available | 34284003739141 |
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| 332.72 H836 2014 The mortgage wars : inside Fannie Mae, big-money politics, and the collapse of the American dream / | 332.72 M93 2009 Chain of blame : how Wall Street caused the mortgage and credit crisis / | 332.72 So92 2009 The housing boom and bust / | 332.7209 G931 2011 Guaranteed to fail : Fannie Mae, Freddie Mac, and the debacle of mortgage finance / | 332.720973 B161 2012 Bull by the horns : fighting to save Main Street from Wall Street, and Wall Street from itself / | 332.720973 En323 2011 The subprime virus : reckless credit, regulatory failure, and next steps / | 332.720973 M823 2011 Reckless endangerment : how outsized ambition, greed, and corruption led to economic armageddon / |
Includes bibliographical references and index.
Feeding the beast -- Ticking time bomb -- Race to the bottom -- Too big to fail -- End of days -- In bed with the Fed -- How others do it -- How to reform a broken system -- Chasing the dragon.
The financial collapse of Fannie Mae and Freddie Mac in 2008 led to one of the most sweeping government interventions in private financial markets in history. The bailout has already cost American taxpayers close to $150 billion, and substantially more will be needed. The U.S. economy--and by extension, the global financial system--has a lot riding on Fannie and Freddie. They cannot fail, yet that is precisely what these mortgage giants are guaranteed to do. How can we limit the damage to our economy, and avoid making the same mistakes in the future? Guaranteed to Fail explains how poorly designed government guarantees for Fannie Mae and Freddie Mac led to the debacle of mortgage finance in the United States, weighs different reform proposals, and provides sensible, practical recommendations. Despite repeated calls for tougher action, Washington has expanded the scope of its guarantees to Fannie and Freddie, fueling more and more housing and mortgages all across the economy--and putting all of us at risk. This book unravels the dizzyingly immense, highly interconnected businesses of Fannie and Freddie. It proposes a unique model of reform that emphasizes public-private partnership, one that can serve as a blueprint for better organizing and managing government-sponsored enterprises like Fannie Mae and Freddie Mac. In doing so, Guaranteed to Fail strikes a cautionary note about excessive government intervention in markets.
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