Why America's public-private mortgage giants threaten the world economy—and what to do about it The financial collapse of Fannie Mae and Freddie Mac in 2008 led to one of the most sweeping government interventions in private financial markets in history. The bailout has already cost American taxpayers close to $150 billion, and substantially more will be needed. The U.S. economy--and by extension, the global financial system--has a lot riding on Fannie and Freddie. They cannot fail, yet that is precisely what these mortgage giants are guaranteed to do. How can we limit the damage to our economy, and avoid making the same mistakes in the future? Guaranteed to Fail explains how poorly designed government guarantees for Fannie Mae and Freddie Mac led to the debacle of mortgage finance in the United States, weighs different reform proposals, and provides sensible, practical recommendations. Despite repeated calls for tougher action, Washington has expanded the scope of its guarantees to Fannie and Freddie, fueling more and more housing and mortgages all across the economy--and putting all of us at risk. This book unravels the dizzyingly immense, highly interconnected businesses of Fannie and Freddie. It proposes a unique model of reform that emphasizes public-private partnership, one that can serve as a blueprint for better organizing and managing government-sponsored enterprises like Fannie Mae and Freddie Mac. In doing so, Guaranteed to Fail strikes a cautionary note about excessive government intervention in markets.

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Yes, you can access Guaranteed to Fail by Viral V. Acharya,Matthew Richardson,Stijn van Nieuwerburgh,Lawrence J. White in PDF and/or ePUB format, as well as other popular books in Commerce & Finance. We have over one million books available in our catalogue for you to explore.

Information

Publisher

Princeton University Press

Year

2011

ISBN

9781400838097

Topic

Commerce

Subtopic

Finance

Cover
Title
Copyright
Dedication
Contents
Acknowledgments
Prologue
One: Feeding the Beast
Two: Ticking Time Bomb
Three: Race to the Bottom
Four: Too Big to Fail
Five: End of Days
Six: In Bed with the Fed
Seven: How Others Do It
Eight: How to Reform a Broken System
Nine: Chasing the Dragon
Epilogue
Appendix: Timeline of U.S. Housing Finance Milestones
Notes
Glossary
Index