The subprime mortgage crisis has already wreaked havoc on the lives of millions of people and now it threatens to derail the U.S. economy and economies around the world. In this trenchant book, best-selling economist Robert Shiller reveals the origins of this crisis and puts forward bold measures to solve it. He calls for an aggressive response--a restructuring of the institutional foundations of the financial system that will not only allow people once again to buy and sell homes with confidence, but will create the conditions for greater prosperity in America and throughout the deeply interconnected world economy.
Shiller blames the subprime crisis on the irrational exuberance that drove the economy's two most recent bubbles--in stocks in the 1990s and in housing between 2000 and 2007. He shows how these bubbles led to the dangerous overextension of credit now resulting in foreclosures, bankruptcies, and write-offs, as well as a global credit crunch. To restore confidence in the markets, Shiller argues, bailouts are needed in the short run. But he insists that these bailouts must be targeted at low-income victims of subprime deals. In the longer term, the subprime solution will require leaders to revamp the financial framework by deploying an ambitious package of initiatives to inhibit the formation of bubbles and limit risks, including better financial information; simplified legal contracts and regulations; expanded markets for managing risks; home equity insurance policies; income-linked home loans; and new measures to protect consumers against hidden inflationary effects.
This powerful book is essential reading for anyone who wants to understand how we got into the subprime mess--and how we can get out.
No matter who you are-investor, trader, homeowner, 401(k) holder, or CEO-you are bound to feel the impact of Alan Greenspan's �Age of Ignorance� for years to come.
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According to MSN Money columnist William A. Fleckenstein, Greenspan's nearly 19-year career as Federal Reserve Chairman is even worse than anyone imagined. Labeled �Mr. Bubble� by the New York Times, Greenspan was nothing less than a serial bubble blower with a long history of bad decision-making. His famous �Greenspan Put� fueled the perception of a Goldilocks economy-but, as this explosive expos� reveals, the bear has finally caught up with Goldilocks.
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Using transcripts of Greenspan's FOMC meetings as well as testimony before Congress, this eye-opening book delivers a timeline of his most devastating mistakes and weaves together the connection between every economic calamity of the past 19 years:
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The stock market crash of 1987.
The Savings And Loan crisis.
The collapse of Long Term Capital Management.
The tech bubble of 2000.
The feared Y2K disaster.
The credit bubble and real estate crisis of 2007.
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Fleckenstein explains just how far-reaching Greenspan's mess has been flung, and presents damning evidence that contradicts the former Fed chief's public naivet� concerning shifts in the market and economy. He also points to a disturbing fact, that throughout his career, Greenspan not only made costly mistakes, but made the same ones-over and over again. And not only was he never able to recognize or admit to those mistakes, he constantly rewrote his own history to justify them.
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Greenspan's Bubbles offers a lock-stock-and-barrel portrait of a flawed but fascinating man whose words and actions have led a whole generation astray, and whose legacy will continue to challenge us in the years ahead.
About this product: Rachael Ray's Big Orange Book By Rachael Ray"In the 10 years since she served up her first 30-minute mealùand thousands of delectable dinners laterù Rachael Ray has learned just about all there is to know about getting a great tasting meal on the table in
Nancy absolutely adores stars. She loves how they sparkle in the sky, and she can even name the constellations. Nancy can hardly wait for her class visit to the planetarium!
Young readers will delight in this newest addition to the Fancy Nancy I Can Read series, sharing in Nancy's anticipation and disappointment when the trip doesn't go as planned. But with her trademark panache, Nancy manages to make even this frustrating situation fun—and, of course, fancy.
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About this product: Fans of the #1 New York Times bestselling Twilight Saga will treasure this definitive official guide!
This must-have hardcover edition--the only official guide--is the definitive encyclopedic reference to the Twilight Saga and provides readers with everything they need to further explore the unforgettable world Stephenie Meyer created in Twilight, New Moon, Eclipse, and Breaking Dawn. With exclusive new material, character profiles, genealogical charts, maps, extensive cross-references, and much more, this comprehensive handbook is essential for every Twilight Saga fan.
About this product: "Softly he brushed my cheek, then held my face between his marble hands. ''Be very still,'' he whispered, as if I wasn''t already frozen. Slowly, never moving his eyes from mine, he leaned toward me. Then abruptly, but very gently, he rested his cold cheek against the hollow at the base of my throat. " As Shakespeare knew, love burns high when thwarted by obstacles. In Twilight, an exquisite fantasy by Stephenie Meyer, readers discover a pair of lovers who are supremely star-crossed. Bella adores beautiful Edward, and he returns her love. But Edward is having a hard time controlling the blood lust she arouses in him, because--he''s a vampire. At any moment, the intensity of their passion could drive him to kill her, and he agonizes over the danger. But, Bella would rather be dead than part from Edward, so she risks her life to stay near him, and the novel burns with the erotic tension of their dangerous and necessarily chaste relationship.Meyer has achieved quite a feat by making this scenario completely human and believable. She begins with a familiar YA premise (the new kid in school), and lulls us into thinking this will be just another realistic young adult novel. Bella has come to the small town of Forks on the gloomy Olympic Peninsula to be with her father. At school, she wonders about a group of five remarkably beautiful teens, who sit together in the cafeteria but never eat. As she grows to know, and then love, Edward, she learns their secret. They are all rescued vampires, part of a family headed by saintly Carlisle, who has inspired them to renounce human prey. For Edward''s sake they welcome Bella, but when a roving group of tracker vampires fixates on her, the family is drawn into a desperate pursuit to protect the fragile human in their midst. The precision and delicacy of Meyer''s writing lifts this wonderful novel beyond the limitations of the horror genre to a place among the best of YA fiction. (Ages 12 and up)
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What's in the Box 18 book pages, 2 cover pages, 10 washable markers, story web planner, instructions, order form, and prepaid envelope.
Publish your very own book with the Illustory Make Your Own Book Kit.
The Illustory Kit comes complete with markers, special book pages, story planners, and more.
BOOK
