Guaranteed to Fail: Fannie Mae, Freddie Mac, and the Debacle of Mortgage Finance

3.36 avg rating
( 69 ratings by Goodreads )
 
9780691150789: Guaranteed to Fail: Fannie Mae, Freddie Mac, and the Debacle of Mortgage Finance
View all copies of this ISBN edition:
 
 

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.

"synopsis" may belong to another edition of this title.

Review:

[A] valuable book on how two quasi-public companies became 'the world's largest and most leveraged hedge fund'. . . . A balanced study, [Guaranteed to Fail] rises above a clash between partisans on the right--who call the companies 'ground zero' in the meltdown--and those on the left who blame deregulation and Wall Street excess. . . . Part primer, part policy prescription, the text explains in simple language what these entities are, how they got so big, and why we must fix them.---James Pressley, Bloomberg News

Guaranteed to Fail: Fannie Mae, Freddie Mac, and the Debacle of Mortgage Finance, stands out among all the others. . . . [I]t is one of the very few books to focus squarely on the ultimate cause of the crisis: US government housing policy and the role of the two government-backed mortgage giants Freddie Mac and Fannie Mae in giving effect to that policy.---Stephen Kirchner, The Conversation

[T]hought-provoking.---Gillian Tett, Financial Times

No one can accuse the authors of failing to offer solutions to the problems they so thoroughly document. . . . One can only hope that some trace of the constructive approach of Guaranteed to Fail will inform the ongoing debate in Washington on the vitally important question of the future structure of the U.S. mortgage market.---Martin S. Fridson, Financial Analyst Journal

This book should, without question, play an important role in the policy discussion of how to reform the mortgage market. Its accessible explanation of the GSEs' growth and behavior, and its detail and care in suggesting the direction for housing finance to go--and how to get it there--are its strengths. In terms of audience, the book seems more oriented toward policy discussions than academic ones. . . . As a whole, it provides a useful overview of the rise and fall of the GSEs, and is a worthwhile read for those interested in understanding the recent crisis.---Daniel K. Fetter, Journal of Economic Literature

[T]he scholarly NYU tome focuses on policy mistakes and perverse incentives. . . . The Stern School economists [highlight the] 'race to the bottom' among mortgage lenders . . . [who] responded by 'moving down the credit curve of increasingly shaky mortgage loans.' . . . Bad lending begat worse lending.---Robert J. Samuelson, Claremont Review of Books

They combine in an ideal way research and political consulting, resulting in an easy-to-read book that nevertheless has the necessary in-depth analysis. The book is rich with quotes from the past suggesting that everybody should have seen the imminent disaster.---Rico von Wyss, Financial Markets and Portfolio Management

Guaranteed to Fail is one of the more comprehensive and informative books on the financial crisis. In addition to its relevance to the policy debate on homeownership and government guarantees, the book has numerous pedagogical strengths. Each chapter is well-organized, contains numerous charts and graphs, and has incredible detail regarding legislation, announcements, and media reports that impacted the housing market since the 1930s. The appendix, with a timeline of US housing finance milestones and a 32-page blueprint for reform, highlight the great effort that went into the creation of this work.---Cynthia Bansak and Peter Carpenter, Eastern Economic Journal

The [authors] combine in an ideal way research and political consulting, resulting in an easy-to-read book that nevertheless has the necessary in-depth analysis. The book is rich with quotes from the past suggesting that everybody should have seen the imminent disaster.---Rico von Wyss, Swiss Society for Financial Market Research

"Guaranteed to Fail is a down-to-earth analysis of why Fannie Mae and Freddie Mac collapsed and why housing finance is broken. The authors provide clear solutions to fixing this complex problem. This is a timely and important book."--Nouriel Roubini, coauthor of Crisis Economics: A Crash Course in the Future of Finance

From the Back Cover:

"Guaranteed to Fail is a down-to-earth analysis of why Fannie Mae and Freddie Mac collapsed and why housing finance is broken. The authors provide clear solutions to fixing this complex problem. This is a timely and important book."--Nouriel Roubini, coauthor of Crisis Economics: A Crash Course in the Future of Finance

"Guaranteed to Fail is a comprehensive and well-written study of the role played by Fannie and Freddie in the events leading up to the financial crisis. It also suggests the way forward. This book is timely as well as insightful, and will be an influential contribution to the debate on the role of government-sponsored enterprises."--Raghuram G. Rajan, author of Fault Lines: How Hidden Fractures Still Threaten the World Economy

"This is an excellent book. Guaranteed to Fail presents a cogent proposal for the resolution of the current conservatorship of Fannie Mae and Freddie Mac. It documents the historical, economic, political, and financial issues that led to the current crisis, and presents all the issues in a fair and informative manner."--Dwight Jaffee, University of California, Berkeley

"About this title" may belong to another edition of this title.

Other Popular Editions of the Same Title

9789350290651: Guaranteed to Fail: Fannie Mae, Freddie Mac and the Debacle of Mortgage Finance

Featured Edition

ISBN 10:  9350290650 ISBN 13:  9789350290651
Publisher: HarperCollins India, 2011
Hardcover

Top Search Results from the AbeBooks Marketplace

1.

Acharya, Viral; Richardson, Matthew; van Nieuwerburgh, Stijn; White, Lawrence
Published by Princeton University Press (2011)
ISBN 10: 0691150788 ISBN 13: 9780691150789
New Hardcover Quantity Available: 1
Seller:
Poverty Hill Books
(Mt. Prospect, IL, U.S.A.)
Rating
[?]

Book Description Princeton University Press, 2011. Hardcover. Condition: New. HARDCOVER, BRAND NEW, Perfect Shape, No Remainder Mark,Fast Shipping With Online Tracking, International Orders shipped Global Priority Air Mail, All orders handled with care and shipped promptly in secure packaging, we ship Mon-Sat and send shipment confirmation emails. Our customer service is friendly, we answer emails fast, accept returns and work hard to deliver 100% Customer Satisfaction!. Seller Inventory # 9047108

More information about this seller | Contact this seller

Buy New
8.61
Convert currency

Add to Basket

Shipping: 3.05
Within U.S.A.
Destination, rates & speeds

2.

Acharya, Viral V.; Richardson, Matthew; van Nieuwerburgh, Stijn; White, Lawrence J.
Published by Princeton University Press
ISBN 10: 0691150788 ISBN 13: 9780691150789
New Hardcover Quantity Available: 1
Seller:
Lakeside Books
(Benton Harbor, MI, U.S.A.)
Rating
[?]

Book Description Princeton University Press. Hardcover. Condition: New. 0691150788 Brand New! Not Overstocks or Low Quality Book Club Editions! Direct From the Publisher! We're not a giant, faceless warehouse organization! We're a small town bookstore that loves books and loves it's customers! Buy from us and you get great service as well as a great price! Your business is valued and your satisfaction is guaranteed!. Seller Inventory # OTF-9780691150789

More information about this seller | Contact this seller

Buy New
12.30
Convert currency

Add to Basket

Shipping: 3.05
Within U.S.A.
Destination, rates & speeds

3.

Acharya, Viral V.; Richardson, Matthew; van Nieuwerburgh, Stijn; White, Lawrence J.
Published by Princeton University Press
ISBN 10: 0691150788 ISBN 13: 9780691150789
New Hardcover Quantity Available: 1
Seller:
Booklot COM LLC
(Philadelphia, PA, U.S.A.)
Rating
[?]

Book Description Princeton University Press. Hardcover. Condition: New. 0691150788. Seller Inventory # Z0691150788ZN

More information about this seller | Contact this seller

Buy New
15.37
Convert currency

Add to Basket

Shipping: FREE
Within U.S.A.
Destination, rates & speeds

4.

Acharya, Viral V.; Richardson, Matthew; van Nieuwerburgh, Stijn; White, Lawrence J.
Published by Princeton University Press
ISBN 10: 0691150788 ISBN 13: 9780691150789
New Hardcover Quantity Available: 1
Seller:
Mega Buzz
(Bensalem, PA, U.S.A.)
Rating
[?]

Book Description Princeton University Press. Hardcover. Condition: New. 0691150788. Seller Inventory # Z0691150788ZN

More information about this seller | Contact this seller

Buy New
15.37
Convert currency

Add to Basket

Shipping: FREE
Within U.S.A.
Destination, rates & speeds

5.

Acharya, Viral V.; Richardson, Matthew; van Nieuwerburgh, Stijn; White, Lawrence J.
Published by Princeton University Press
ISBN 10: 0691150788 ISBN 13: 9780691150789
New Hardcover Quantity Available: 1
Seller:
Best Bates
(Bensalem, PA, U.S.A.)
Rating
[?]

Book Description Princeton University Press. Hardcover. Condition: New. 0691150788. Seller Inventory # Z0691150788ZN

More information about this seller | Contact this seller

Buy New
15.37
Convert currency

Add to Basket

Shipping: FREE
Within U.S.A.
Destination, rates & speeds

6.

Acharya, Viral V.; Richardson, Matthew; van Nieuwerburgh, Stijn; White, Lawrence J.
Published by Princeton University Press
ISBN 10: 0691150788 ISBN 13: 9780691150789
New Hardcover Quantity Available: 1
Seller:
Bookhouse COM LLC
(Philadelphia, PA, U.S.A.)
Rating
[?]

Book Description Princeton University Press. Hardcover. Condition: New. 0691150788. Seller Inventory # Z0691150788ZN

More information about this seller | Contact this seller

Buy New
15.37
Convert currency

Add to Basket

Shipping: FREE
Within U.S.A.
Destination, rates & speeds

7.

Acharya, Viral V.; Richardson, Matthew; van Nieuwerburgh, Stijn; White, Lawrence J.
Published by Princeton University Press
ISBN 10: 0691150788 ISBN 13: 9780691150789
New Hardcover Quantity Available: 1
Seller:
BookShop4U
(PHILADELPHIA, PA, U.S.A.)
Rating
[?]

Book Description Princeton University Press. Hardcover. Condition: New. 0691150788. Seller Inventory # Z0691150788ZN

More information about this seller | Contact this seller

Buy New
15.37
Convert currency

Add to Basket

Shipping: FREE
Within U.S.A.
Destination, rates & speeds

8.

Acharya, Viral V.; Richardson, Matthew; van Nieuwerburgh, Stijn; White, Lawrence J.
Published by Princeton University Press
ISBN 10: 0691150788 ISBN 13: 9780691150789
New Hardcover Quantity Available: 1
Seller:
Qwestbooks COM LLC
(Bensalem, PA, U.S.A.)
Rating
[?]

Book Description Princeton University Press. Hardcover. Condition: New. 0691150788. Seller Inventory # Z0691150788ZN

More information about this seller | Contact this seller

Buy New
15.37
Convert currency

Add to Basket

Shipping: FREE
Within U.S.A.
Destination, rates & speeds

9.

Acharya, Viral V.; Richardson, Matthew; van Nieuwerburgh, Stijn; White, Lawrence J.
Published by Princeton University Press
ISBN 10: 0691150788 ISBN 13: 9780691150789
New Hardcover Quantity Available: 1
Seller:
Vital Products COM LLC
(Southampton, PA, U.S.A.)
Rating
[?]

Book Description Princeton University Press. Hardcover. Condition: New. 0691150788. Seller Inventory # Z0691150788ZN

More information about this seller | Contact this seller

Buy New
15.37
Convert currency

Add to Basket

Shipping: FREE
Within U.S.A.
Destination, rates & speeds

10.

Matthew Richardson, Viral V. Acharya, Lawrence J. White,
Published by Princeton University Press, United States (2011)
ISBN 10: 0691150788 ISBN 13: 9780691150789
New Hardcover Quantity Available: 1
Seller:
The Book Depository
(London, United Kingdom)
Rating
[?]

Book Description Princeton University Press, United States, 2011. Hardback. Condition: New. New. Language: English. Brand new Book. 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. Seller Inventory # AAC9780691150789

More information about this seller | Contact this seller

Buy New
15.41
Convert currency

Add to Basket

Shipping: FREE
From United Kingdom to U.S.A.
Destination, rates & speeds

There are more copies of this book

View all search results for this book