Full Product Details
Author: Financial Crisis Inquiry Commission ,
National Commission on the Causes of the Financial and Economic Crisis in T
Publisher: Government Printing Office
Imprint: Government Printing Office
Edition: Revised edition
Dimensions:
Width: 15.20cm
, Height: 3.80cm
, Length: 22.90cm
Weight: 0.953kg
ISBN: 9780160879838
ISBN 10: 0160879833
Pages: 662
Publication Date: 18 March 2011
Audience:
Professional and scholarly
,
Professional & Vocational
Format: Paperback
Publisher's Status: Active
Availability: In Print
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Reviews
Reviews from Goodreads: <p>Thomas Gross rated it with 5 stars and had this to say, A must-read, and very readable. This report explains a lot of what happened and is invaluable to an intelligent understanding of the Financial free-fall. <p>Mike rated it with 4 stars and had this to say, This is excellent. Select chapters from this book ought to be required reading for high-schoolers. <p>Thomas Dunn rated it with 4 stars and had this to say, An honest first appraisal. Opening chapter with the commissions several conclusions should be required high school reading. <p>Hiro rated it with 3 stars and hd this to say, <p> The book is the official report produced by the Financial Crisis Inquiry Commission on the financial crisis of 2007-2008. The book primarily provides a chronological history before, during, and briefly after the crisis. There are three different reports: one adopted by the majority i.e. 6 members of the 10 member commission which were chosen by the Democratic leadership of Congress, which constitutes most of the book, and two separate dissenting reports adopted by 3 members and 1 member of the commission who were all chosen by the Republican leadership of Congress. The majority report describes the various causes of the financial crisis in great detail as they happened, including inadequate corporate governance and oversight at financial institutions, a system which rewards short-term profit at all levels, and lax regulatory oversight of various financial institutions especially by the federal government. The 3 member dissenting report is similar to the majority report, except that it puts more emphasis on international factors which were not considered in detail in the majority report. The 1 member dissenting report puts the blame of the financial crisis primarily on government housing policy over the years, which facilitated reduced lending standards and encouraged the creation of toxic mortgages which the borrowers had no realistic ability to
