Who Really Drove the Economy Into the Ditch?

Who Really Drove the Economy Into the Ditch?

by Joseph N. Fried

NOOK Book(eBook)

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Joseph N. Fried examines the factors leading to the financial crisis of 2007/8 and the mess it's put us in today. Although he analyzes the transgressions of Wall Street, the author also presents a wide variety of factors - including some that originated in the governmental sector and others that originated in the private sector. The book includes several rarely mentioned contributing factors such as the detrimental impact of automated underwriting systems that were heavily promoted by Fannie Mae and Freddie Mac.

This is an opinionated book with an attitude. However, the author, a CPA and MBA, presents economic information in a conversational tone and meticulously backs up his views with references, charts, and quotes. Joseph N. Fried has published several books with Algora, explaining financial controversies and challenges for the general reader. Here, he highlights eye-popping aspects of the recent financial circus including: Drive-by house appraisals; the impact of hundreds of local housing programs funded by HUD; state governments, and housing advocacy groups; false delinquency statistics put forth by Fannie Mae and Freddie Mac; 'silent second' and 'piggyback loans'.

Product Details

ISBN-13: 9780875869445
Publisher: Algora Publishing
Publication date: 10/15/2012
Sold by: Barnes & Noble
Format: NOOK Book
File size: 4 MB

About the Author

Joseph N. Fried, CPA, MBA, has over 30 years experience performing certified financial statement audits for nonprofit organizations and HUD-approved mortgage companies. He is presently the director of the Public Program Testing Organization, an Ohio-based nonprofit organization dedicated to identifying waste and abuse in the government and nonprofit sectors. This is Joe's third book with Algora.

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