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 [...]
Moving Forward: The Future of Consumer Credit and Mortgage Finance. Edited by Nicolas P. Retsinas and Eric S. Belsky. Brookings Institution Press 2011, pp. 264, $28.95 Although there are indications that the housing market may be improving, particularly in rural states with large agricultural, energy, and industrial sectors, the housing market is unlikely to recover [...]
Guaranteed to Fail: Fannie Mae, Freddie Mac, and the Debacle of Mortgage Finance
Guaranteed To Fail: Fannie Mae, Freddie Mac and the Debacle of Mortgage Finance. Viral V. Acharya, Matthew Richardson, Stijn Van Niewerburgh, and Lawrence J. White. Princeton University Press 2011, 222 pp. $24.95. Guaranteed To Fail is timely collaborative effort by professors at New York University’s Stern School of Business. In this academic monograph, the authors [...]