News:
"If you wonder how it could be possible for a subprime mortgage loan to bring the global financial system and the U.S. economy to its knees you should read this book. No one is better qualified to provide this insight and advice than Mark Zandi."
--Larry Kudlow, Host of CNBC's "Kudlow & Company"
"Throughout the financial crisis Mark Zandi has played two important roles. He has insightfully analyzed its causes and thoughtfully recommended steps to alleviate it. This book continues those tasks and adds a third – providing a comprehensive and comprehensible explanation of the issues that is accessible to the general public and extremely useful to those who specialize in the area."
--Barney Frank, Chairman of the House Financial Services Committee
"Every once in a while a book comes along that's so important, it commands recognition. This is one of them. Zandi provides a brilliant blow-by-blow account of how greed, stupidity and recklessness brought the first major economic crises of the 21st century --- and the most serious since the Great Depression. What makes this book so compelling are Zandi's two remarkable talents. He not only ranks among the smartest and most influential economists in the U.S., but he is also a hugely gifted writer who has crafted a fascinating and well-researched anatomy of the latest housing and financial debacle. This book should be required reading for students, business leaders and policymakers. Indeed, the more people who read it, the less likely it is we will repeat such a calamity in the future."
--Bernard Baumohl,
Managing Director of THE ECONOMIC OUTLOOK GROUP
and author of the best seller, The Secrets of Economic Indicators
“A must read for all who wish to understand the sources of today’s subprime crisis. Not only is this book a compelling read, but it also provides the basics to understand how subprime mortgages, a formerly obscure lending vehicle, could bring America’s financial system, long the envy of the world to its knees. Zandi demystifies the complexities of mortgage and securities markets and points in plain English to the forces that caused bad lending to crowd out good, putting homeowners and the nation’s economy at risk.”
--Susan M. Wachter, Co-Director -
Institute for Urban Research,
The Wharton School, University of Pennsylvania
"Mark Zandi is the Dean of macroeconomic analysis and forecasting. No one has followed the development of the current financial situation more closely than Mark. He understands the housing market as well anyone today and offers great insights into what is likely to come and how to prevent a repetition."
--Karl E. "Chip" Case, Professor of Economics,
Wellesley College


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