Cover: The Banks Did It: An Anatomy of the Financial Crisis, from Harvard University PressCover: The Banks Did It in HARDCOVER

The Banks Did It

An Anatomy of the Financial Crisis

Add to Cart

Product Details

HARDCOVER

$39.95 • £31.95 • €36.00

ISBN 9780674249356

Publication Date: 06/08/2021

Text

336 pages

6-1/8 x 9-1/4 inches

1 photo, 27 illus., 7 tables

World

  • List of Illustrations*
  • Preface
  • 1. A Long, Strange Trip
  • 2. From Mortgages to Mortgage Securitization
  • 3. The Rise of the Vertically Integrated Private Banks, 1993–2001
  • 4. Financial Innovation and the Alphabet Soup of Financial Products
  • 5. The Subprime Moment, 2001–2008
  • 6. The Crisis and Its Spread Worldwide
  • 7. Fraud and the Financial Crisis
  • 8. Why Did the Federal Reserve Miss the Financial Crisis of 2008?
  • 9. The Banks Did It (With the Help of the Government!)
  • Notes
  • References
  • Acknowledgments
  • Index
  • * Illustrations
    • Figures
      • 2.1. Homeownership rates for the United States, 1900–2008
      • 2.2. Shares of nonfarm residential debt, 1895–2005
      • 2.3. An announcement of the first MBS issued by Ginnie Mae in 1970
      • 3.1. Residential mortgage origination by type, 1990–2003
      • 3.2. Percentage of securitizations done by GSE, 1980–2001
      • 3.3. Concentration in mortgage lending: top twenty-five market share
      • 3.4. Percentage of all loans that were securitized
      • 3.5. The vertically integrated bank, circa 2001
      • 4.1. Asset-backed securities outstanding over time
      • 4.2. Key institutions surrounding GSAMP Trust 2006-NC2
      • 4.3. Capital structure of GSAMP Trust 2006-NC2
      • 5.1. Residential mortgage origination by type, 1990–2008
      • 5.2. Mortgage originations by purchase and refinance
      • 5.3. Mortgage-related security holdings of four largest investor types, 2002–2008
      • 5.4. Financial profits as a share of all profits
      • 5.5. Amounts of MBS issuance by type for nonagency firms
      • 5.6. Total of collateralized debt obligations and mortgage-related securities issuance, 2004–2008
      • 5.7. Rise and fall of the ABCP market
      • 6.1. Quarterly percentage change in national housing price index and share of prime and subprime mortgages ninety-plus days delinquent or in foreclosure
      • 6.2. Timeline of MBS credit downgrades
      • 6.3. Average magnitude of subsequent Alt-A, B/C, and HEL downgrades by vintage
      • 7.1. Credit-crisis-related settlements, 2007–July 2017
      • 8.1. Ngram for “house price bubble”
      • 8.2. Number of FOMC meetings where “house price bubble” was a topic, 2000–2009
      • 9.1. Production of MBSs by private-label securities (non-GSE financial institutions) and the. total outstanding MBSs issued by the GSEs, 1999–2018
      • 9.2. Agency and nonagency shares of residential MBS issuance, 1995–2018
      • 9.3. Mortgage debt in the United States
      • 9.4. Government holding of MBSs, 2002–2018
    • Tables
      • 5.1. Dominant firms in selected mortgage finance segments, 1996 and 2007
      • 6.1. What happened to the main players in the market
      • 6.2. Countries that experienced a banking crisis, 2008–2009
      • 6.3. Foreign countries with the highest amount of MBSs/GDP in 2006 and countries with the highest amount of ABCP/GDP
      • 6.4. Largest banks with ABCP holdings with country of origin
      • 7.1. Loan performance of nonconventional mortgages issued in 2002–2008
      • 8.1. Voting members of the Federal Open Market Committee, 2000–2008

Recent News

Black lives matter. Black voices matter. A statement from HUP »

From Our Blog

Cover: A Theory of Justice: Original Edition, by John Rawls, from Harvard University Press

John Rawls: Speaking in a Shared Political Language

On the occasion of the anniversary of the publication of A Theory of Justice, Andrius Gališanka, author of John Rawls: The Path to a Theory of Justice, reflects on some of Rawls’s ideas on moral and political reasoning