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

by Viral V. Acharya
     
 

"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

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Overview

"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

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Product Details

ISBN-13:
9780691150789
Publisher:
Princeton University Press
Publication date:
03/21/2011
Pages:
232
Sales rank:
327,479
Product dimensions:
5.80(w) x 8.90(h) x 0.90(d)

Table of Contents

Acknowledgments ix

Prologue 1

CHAPTER ONE: Feeding the Beast 11

CHAPTER TWO: Ticking Time Bomb 31

CHAPTER THREE: Race to the Bottom 41

CHAPTER FOUR: Too Big to Fail 61

CHAPTER FIVE: End of Days 80

CHAPTER SIX: In Bed with the Fed 99

CHAPTER SEVEN: How Others Do It 115

CHAPTER EIGHT: How to Reform a Broken System 132

CHAPTER NINE: Chasing the Dragon 165

EPILOGUE 178

Appendix: Timeline of U.S. Housing Finance Milestones 183

Notes 187

Glossary 207

Index 211

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