9780143118725

The End of Wall Street

by
  • ISBN13:

    9780143118725

  • ISBN10:

    0143118722

  • Edition: Reprint
  • Format: Paperback
  • Copyright: 3/29/2011
  • Publisher: Penguin Group USA

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Summary

With razor-sharp insight, bestselling author Roger Lowenstein tells the full story of the end of Wall Street as we knew it.

Roger Lowenstein's The End of Wall Street unfurls a gripping chronicle of the 2008 financial collapse, drawing on 180 interviews with top government officials and Wall Street CEOs. Lowenstein looks to the roots of the crisis to reveal how America succumbed to the siren song of easy debt and speculative mortgages. Combining deep analysis with sizzling narrative, The End of Wall Street charts the end of an era of unprecedented and unwarranted optimism while looking ahead to the legacy of the bailout.

’Lowenstein has written four books on business trends and financial crises and has written for the Wall Street Journal for more than a decade. Although the events leading up to the financial crisis of 2008 have been chronicled from many angles, Lowenstein takes a deeper look at the systemic oversights that led up to that event. The media often blames the bankruptcy of Lehman Brothers and the failure of AIG for the calamity that froze credit markets and ground the economy to a halt, leading to record job losses and the worst downturn since the Great Depression. But the structural damage to the financial system had already been in place by then, brought on by the speculative bubble in real estate nationwide, which was accelerated by lax regulation in subprime mortgages and the securitization of mortgages and endless derivatives, which spread the risk like toxic waste throughout the financial system. Lowenstein does a great job of explaining all this in understandable terms that unobtrusively avoid the injection of emotion and politics.’’ -David Siegfried

Table of Contents

Cast of Charactersp. xi
Introductionp. xxi
Prologuep. 1
To the Crossroadsp. 7
Subprimep. 15
Lendersp. 28
Niagarap. 39
Lehmanp. 48
Desperate Surgep. 65
Absence of Fearp. 81
Citi's Turnp. 99
Rubiconp. 120
Totteringp. 137
Fannie's Turnp. 155
Sleeplessp. 177
The Forces of Evilp. 192
Aftershocksp. 202
The Hedge Fund Warp. 218
The Tarpp. 235
Steel's Turnp. 250
Reluctant Socialistp. 258
Great Recessionp. 273
The End of Wall Streetp. 285
Afterword to the 2011 Editionp. 299
Acknowledgmentsp. 307
Notesp. 311
Indexp. 335
Table of Contents provided by Ingram. All Rights Reserved.

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Customer Reviews

Enlightening!!! June 28, 2011
by
"The End of Wall Street" details the recent economic collapse by focusing primarily on the Federal Government's interaction with Wall Street as the United States banking system and the entire economy faced a total collapse due to the breakdown of the housing market. Lowenstein is a writer who is easy to read, who instructs readers, he provides a dictionary for technical issues that gives light to people who is not immersed in financial world. It is an unbiased, well researched piece of work. I would recommend it to anyone that wants to really understand how this could have happened.
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The End of Wall Street: 5 out of 5 stars based on 1 user reviews.

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