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Published: 17 February 2011

368 Pages | 12 line illustrations, 23 halftones


ISBN: 9780195388824

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The Subprime Virus

Reckless Credit, Regulatory Failure, and Next Steps

Kathleen C. Engel and Patricia A. McCoy

  • Many people ask the authors: how did this happen? Where was the government? Did you see this coming? And, what can be done? The book answers these questions.
  • The book sits between somewhere between journalism and academic scholarship and will be accessible to people who are curious about various social and economic phenomena and look to academic crossover books for deeper knowledge. These people want an overview of the subprime crisis, without having to immerse themselves in technical, academic articles. The broad arc of this book will serve that need.
  • One feature of the book is truly unique: the description of regulatory failure. No other book provides a comprehensive description or analysis of the federal government's regulatory failure in the subprime crisis or how the government could have prevented the crisis.
  • The book challenges the myth that the subprime crisis was a "perfect storm" that could not be foreseen beforehand.
  • The book covers the first year of the Obama presidency's response, which other books do not.
  • As law professors and lawyers, the authors' analysis and solutions are grounded in a rich understanding of how the law can be used to prevent a repeat crisis.

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