Unravelling the credit crunch:
Saved in:
| Main Author: | |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Boca Raton, Fla.[u.a.]
CRC Press
2009
|
| Series: | Chapman & HALL/CRC financial mathematics series
|
| Subjects: | |
| Links: | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=018740951&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| Physical Description: | 317 S. graph. Darst. |
| ISBN: | 9781439802588 |
Staff View
MARC
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| 300 | |a 317 S. |b graph. Darst. | ||
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| 337 | |b n |2 rdamedia | ||
| 338 | |b nc |2 rdacarrier | ||
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| 650 | 4 | |a Credit | |
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Record in the Search Index
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|---|---|
| adam_text | Contents
Introduction
1
1
What Happened?
5
1.1
U.S. Residential Property: The Crunch Begins
........ 6
1.2
Old and New Style Banking
................. 13
1.3
What Happened in the Markets: The Second Stage
..... 18
1.4
Après
Lehman
le Déluge:
The Third Stage
.......... 25
2
Understanding the Slime: U.S. Residential Mortgages
35
2.1
Mortgage Structures and Borrowers
............. 35
2.2
How Mortgages Were Made
................. 47
2.3
Mortgage Lending During the Greenspan Boom
...... 51
2.4
A Story of the
ODM:
Countrywide Financial
........ 57
3
Financial Assets and Their Prices
65
3.1
Securities
........................... 66
3.2
Markets and Prices
...................... 72
3.3
The Liquidity of Financial Assets
............... 74
3.4
What s In It For Me?
..................... 76
4
Liquidity and Central Banks
87
4.1
The Basis of Old-Style Banking
................ 88
4.2
Liability Liquidity
....................... 92
4.3
Central Banks
......................... 99
4.4
Central Bank Policy in a Crunch
............... 104
4.5
A Tale of Two Central Banks
................. 106
4.6
A Twenty First Century Run: Northern Rock
........ 110
The Crash of
1929
and its Legacy
117
5.1
The Crash of
1929
and the Great Depression
........ 117
5.2
Political Reactions
...................... 120
5.3
The New Deal
......................... 122
5.4
The RFC and Other Rescuers
................. 126
5.5
The Evolution of Freddie and Fannie
............. 131
Securitisation, Tranching, and Financial Modelling
139
6.1
Securitisation
......................... 140
6.2
The Securitisation of
Subprime
Mortgages
......... 148
6.3
Models and Hedging
..................... 150
6.4
Model Risk
.......................... 155
6.5
Where Did It All Go Wrong?
................. 159
6.6
The Write-downs
....................... 162
The Legacy Fails: Fannie, Freddie and the Broker/Dealers in
2008 169
7.1
The Growth, Distress, and Rescue of Fannie Mae and Freddie
Mac
.............................. 169
7.2
Financial Services Modernisation in the
1990s........ 176
7.3
The End of the Broker/Dealer
................ 178
7.4
Lessons from the Failure of the Broker/dealer Model
.... 182
7.5
Compensating Controls
................... 185
Structured Finance
195
8.1
Credit Derivatives
....................... 196
8.2 ABS in
Structured Finance
.................. 202
8.3
Structured Finance in the Boom Years
............ 204
8.4
Insurance in Form and Name
................ 209
8.5
The Rescue of AIG
...................... 211
8.6
Off Balance Sheet Funding
.................. 215
Municipal Finance and The
Monolines
227
9.1
Municipal Finance
...................... 228
9.2
The
Monolines
Do Structured Finance
............ 231
9.3
Insurers and Finance: A Toxic Mix?
............. 238
9.4
Auction Rate Securities
.................... 241
10
The Rules of the Game: Accounting and Regulation
249
10.1
Accounting and Why It Matters
............... 250
10.2
Regulation and Regulatory Capital
.............. 256
10.3
The Consequences of Basel
2................. 262
10.4
Regulation Away from Basel
................. 266
10.5
Understanding Earnings
................... 267
10.6
Japan s Lost Decade
...................... 270
10.7
A Comparative Anatomy of Financial Crises
......... 272
11
Changes and Consequences
283
11.1
Transmission
......................... 283
11.2
The Provision of Credit to the Broad Economy
....... 285
11.3
What Worked and What Didn t
............... 289
11.4
Central Banks, Regulators and Accountants
......... 295
11.5
Experimental Finance
..................... 301
11.6
The Financial System from
2009............... 302
Index
310
|
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| id | DE-604.BV035883435 |
| illustrated | Illustrated |
| indexdate | 2024-12-20T14:02:15Z |
| institution | BVB |
| isbn | 9781439802588 |
| language | English |
| lccn | 2009012182 |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-018740951 |
| oclc_num | 259254655 |
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| owner | DE-355 DE-BY-UBR |
| owner_facet | DE-355 DE-BY-UBR |
| physical | 317 S. graph. Darst. |
| publishDate | 2009 |
| publishDateSearch | 2009 |
| publishDateSort | 2009 |
| publisher | CRC Press |
| record_format | marc |
| series2 | Chapman & HALL/CRC financial mathematics series |
| spellingShingle | Murphy, David 1942- Unravelling the credit crunch Financial crises Credit Bank loans Mortgage loans Wirtschaftskrise (DE-588)4066466-1 gnd System (DE-588)4058801-4 gnd Finanzwirtschaft (DE-588)4017214-4 gnd |
| subject_GND | (DE-588)4066466-1 (DE-588)4058801-4 (DE-588)4017214-4 |
| title | Unravelling the credit crunch |
| title_auth | Unravelling the credit crunch |
| title_exact_search | Unravelling the credit crunch |
| title_full | Unravelling the credit crunch David Murphy |
| title_fullStr | Unravelling the credit crunch David Murphy |
| title_full_unstemmed | Unravelling the credit crunch David Murphy |
| title_short | Unravelling the credit crunch |
| title_sort | unravelling the credit crunch |
| topic | Financial crises Credit Bank loans Mortgage loans Wirtschaftskrise (DE-588)4066466-1 gnd System (DE-588)4058801-4 gnd Finanzwirtschaft (DE-588)4017214-4 gnd |
| topic_facet | Financial crises Credit Bank loans Mortgage loans Wirtschaftskrise System Finanzwirtschaft |
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