Noam Scheiber, The Escape Artists: How Obama’s Team Fumbled The Recovery. Simon & Schuster, 2012, pp. 351, $28.00 When he assumed the Office of the Presidency in January 2009, Barack Obama faced challenges on multiple fronts. Ground troops were still in Iraq, the deleterious effects of the housing bubble were rippling throughout the economy, and [...]
The American Mortgage System: Crisis and Reform. Edited by Susan M. Wachter and Marvin M. Smith. University of Pennsylvania Press 2011, pp.392, $49.95 There is a direct correlation between the housing bubble and the freezing up of the credit markets in 2008. Indeed, many commentators have held the largely unregulated derivatives market – much of [...]
Derivatives After Dodd-Frank
The New Financial Deal: Understanding The Dodd-Frank Act and Its (Unintended) Consequences. David Skeel. John Wiley & Sons, Inc. 2011, pp. 220, $34.95 For those individuals who work in financial services, understanding the basic provisions of Dodd-Frank is a necessity. Love it or hate it, no other legislation passed in recent years will have such [...]