The meltdown years : the unfolding of the global economic crisis

The Meltdown Years offers the most lucid and useful explanation to date about why home values, life savings, job security, and investments around the world are in peril. Rather than focus on who is to blame, though, author Wolfgang M?nchau takes the more practical approach of focusing on what is to blame. The fact that individuals were stupid, greedy, and corrupt should come as no surprise. What’s remarkable is that our world’s financial systems—put in place to help stave off such a crisis—failed so miserably. What is inherently wrong with the global monetary system? What happened to the regulatory process? What role did the credit market, hedge funds, and investment banks play? These are the types of questions one must answer in order to truly comprehend what caused the meltdown and, more importantly, to understand what must be done to repair it. M?nchau dissects the global financial system, exposing its flaws and weaknesses in the context of the crisis. A decidedly global perspective of the greatest financial crisis of our time, The Meltdown Years examines The structure of the world banking system Global events that led to financial collapse The growth of speculative bubbles The descent from financial crisis into full-out recession Pointing to an unstable global economic system as the root of the problem, the author predicts how long the recession willand illustrates long-term consequences of the meltdown. “Apportioning [individual] blame for this crisis may be fun,” M?nchau writes, “but it is a dead-end road for anyone who seeks an understanding of what happened.” AIG, Alan Greenspan, Fannie Mae, Bear Stearns... Each is portrayed as a villain responsible for the state of the economy. In truth, the blame is much broader and lies much deeper. The Meltdown Years is required reading for anyone who wants to follow the ongoing debate about economic recovery and understand what the collapse means for the future of financial capitalism. The Meltdown Years offers the most lucid and useful explanation to date about why home values, life savings, job security, and investments around the world are in peril. Rather than focus on who is to blame, though, author Wolfgang Münchau takes the more practical approach of focusing on what is to blame. The fact that individuals were stupid, greedy, and corrupt should come as no surprise. What's remarkable is that our world's financial systems—put in place to help stave off such a crisis—failed so miserably. What is inherently wrong with the global monetary system? What happened to the regulatory process? What role did the credit market, hedge funds, and investment banks play? These are the types of questions one must answer in order to truly comprehend what caused the meltdown and, more importantly, to understand what must be done to repair it. Münchau dissects the global financial system, exposing its flaws and weaknesses in the context of the crisis. A decidedly global perspective of the greatest financial crisis of our time, The Meltdown Years examines The structure of the world banking system Global events that led to financial collapse The growth of speculative bubbles The descent from financial crisis into full-out recession Pointing to an unstable global economic system as the root of the problem, the author predicts how long the recession willand illustrates long-term consequences of the meltdown. "Apportioning [individual] blame for this crisis may be fun," Münchau writes, "but it is a dead-end road for anyone who seeks an understanding of what happened." AIG, Alan Greenspan, Fannie Mae, Bear Stearns... Each is portrayed as a villain responsible for the state of the economy. In truth, the blame is much broader and lies much deeper. The Meltdown Years is required reading for anyone who wants to follow the ongoing debate about economic recovery and understand what the collapse means for the future of financial capitalism. The Meltdown Yearsoffers the most lucid and useful explanation to date about why home values, life savings, job security, and investments around the world are in peril.Rather than focus on who is to blame, though, author Wolfgang Munchau takes the more practical approach of focusing on what isto blame. The fact that individuals were stupid, greedy, and corrupt should come as no surprise. What's remarkable is that our world's financial systems-put in place to help stave off such a crisis-failed so miserably.What is inherently wrong with the global monetary system? What happened to the regulatory process? What role did the credit market, hedge funds, and investment banks play? These are the types of questions one must answer in order to truly comprehendwhat caused the meltdown and, more importantly, to understand what must be done to repair it.Munchau dissects the global financial system,exposing its flaws and weaknesses in the context of the crisis. A decidedly global perspective of the greatest financial crisis of ourtime, The Meltdown Years examinesThe structure of the world banking systemGlobal events that led to financial collapseThe growth of speculative bubblesThe descent from financial crisis into full-out recessionPointing to an unstable global economic system as the root of the problem, theauthor predicts how long the recession willand illustrates long-term consequences of the meltdown."Apportioning [individual] blame for thiscrisis may be fun," Munchau writes, "butit is a dead-end road for anyone who seeksan understanding of what happened." AIG,Alan Greenspan, Fannie Mae, Bear Stearns...Each is portrayed as a villain responsible for the state of the economy. In truth, the blame is much broader and lies much deeper.The Meltdown Years is required reading for anyone who wants to follow the ongoing debate about economic recovery and understandwhat the collapse means for the future offinancial capitalism. The Meltdown Yearsoffers the most lucid and useful explanation todate about why home values, life savings, jobsecurity, and investments around the worldare in peril. Rather than focus on who is to blame,though, author Wolfgang Munchau takes themore practical approach of focusing on what isto blame. The fact that individuals were stupid,greedy, and corrupt should come as no surprise.What's remarkable is that our world'sfinancial systems-put in place to help staveoff such a crisis-failed so miserably. What is inherently wrong with the globalmonetary system? What happened to theregulatory process? What role did the creditmarket, hedge funds, and investment banksplay? These are the types of questions onemust answer in order to truly comprehendwhat caused the meltdown and, more importantly,to understand what must be done torepair it. Munchau dissects the global financial system,exposing its flaws and weaknesses in thecontext of the crisis. A decidedly global perspectiveof the greatest financial crisis of ourtime, The Meltdown Years examines The structure of the worldbanking system Global events that led tofinancial collapse The growth of speculative bubbles The descent from financial crisisinto full-out recession Pointing to an unstable global economicsystem as the root of the problem, theauthor predicts how long the recession willand illustrates long-term consequences ofthe meltdown. "Apportioning [individual] blame for thiscrisis may be fun," Munchau writes, "butit is a dead-end road for anyone who seeksan understanding of what happened." AIG,Alan Greenspan, Fannie Mae, Bear Stearns...Each is portrayed as a villain responsible forthe state of the economy. In truth, the blame ismuch broader and lies much deeper. The Meltdown Years is required readingfor anyone who wants to follow the ongoingdebate about economic recovery and understandwhat the collapse means for the future offinancial capitalism. 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It was the year that the US financial system came to a total collapse, bringing down the world economy with it. In 'The Meltdown Years', the autor gives an in-depth analysis of the true origins of the financial crisis of 2008 Providing actionable advice for creating a more durable financial order; this book presents a solid foundation in the structure and workings of the global economy and presents a broad view of the financial crisis. -- Résumé abrégé tiré de l'ouvrage Providing actionable advice for creating a more durable financial order; this book presents a solid foundation in the structure and workings of the global economy and presents a broad view of the financial crisis. -- Edited summary from book Before The Meltdown -- The Meltdown -- Why Did It Happen, And Now What? -- Epilogue: When The Crisis Is Over -- Appendix. Bubbles Of The Past. Wolfgang Münchau. Includes Bibliographical References (p. 251-253) And Index.