The housing boom and bust

The inimitable Thomas Sowell casts a critical eye at the bubble that shattered the world economy - a cautionary tale that will be sure to spark controversy. Scary headlines and scarier statistics tell the story of a financial crisis on a scale not seen in decades ...

Prudent lending restored

securitization after the mortgage meltdown

Eds. Yasuyuki Fuchita, Richard J. Herring, Robert E. Litan. Once heralded as a financial innovation to diversify risk and enable Wall Street to finance Main Street, securitization helped create the subprime mortgage meltdown of 2006. In this implosion, debt was absorbed by a concentrated group ...

The fall of the house of credit

what went wrong in banking and what can be done to repair the damage?

How was it possible for problems in one relatively small sector in the global financial system - the American sub-prime mortgage market - to lead to the most serious economic crisis in living memory? Alistair Milne untangles the complex world of modern banking and examines solutions to ...

The new paradigm for financial markets

the credit crisis of 2007 and what it means

In the midst of the most serious financial upheaval since the Great Depression, legendary financier George Soros explores the origins of the crisis and its implications for the future. Soros, whose breadth of experience in financial markets is unrivaled, places the current crisis in the ...

Manual de préstamos hipotecarios

El clásico tradicional de la hipoteca sel siglo XIX, se ha visto superado en los últimos diez-quince años por lo que podría denominarse su socialización, dado que no sólo ha pasado a ser el instrumento habitual para la adquisición de bienes raíces, sino que con ...

Modelling single-name and multi-name credit derivatives

"Modelling Single-name and Multi-name Credit Derivatives" presents an up-to-date, comprehensive, accessible and practical guide to the pricing and risk-management of credit derivatives. It is both a detailed introduction to credit derivative modeling and a reference for those who are already practitioners. This book is up-to-date ...

Introduction to securitization

Introduction to Securitization outlines the basics of securitization, addressing applications for this technology to mortgages, collateralized debt obligations, future flows, credit cards, and auto loans. The authors present a comprehensive overview of the topic based on the experience they have gathered through years of interaction ...

The rating agencies and their credit ratings

what they are, how they work, and why they are relevant

Credit rating agencies play a critical role in capital markets, guiding the asset allocation of institutional investors as private capital moves freely around the world in search of the best trade-off between risk and return. However, they have also been strongly criticized for failing to ...

Conversations with practitioners

the chanllenges of market-led microfinance

This book presents a set of edited interviews with the CEOs and product champions of some of the leading microfinance institutions in sub- Saharan Africa, as well as some of the leading thinkers and writers on commercial microfinance internationally. A rare insight into the issues ...

Credit risk

models, derivatives, and management

This volume illustrates how a risk management system can be implemented through an understanding of portfolio credit risks, a set of suitable models, and the derivation of reliable empirical results. It focuses on the application of new products in the financial services industry and the ...

Managing credit risk

the great challenge for global financial markets

There have been significant developments and changes to the world of credit risk management in recent years. "Managing Credit Risk, Second Edition" will touch upon all these changes, including a new emphasis on actively managing credit risk, the introduction of important regulatory changes, and the ...

Subprime Mortgage Credit Derivatives

Mortgage credit derivatives are a risky business, especially of late. Written by an expert author team of UBS practitioners-Laurie Goodman, Shumin Li, Douglas Lucas, and Thomas Zimmerman-along with Frank Fabozzi of Yale University, Subprime Mortgage Credit Derivatives covers state- of-the-art instruments and strategies for managing ...

The credit crunch

housing bubbles, globalisation and the worldwide economic crisis

This book argues that the current financial turmoil signals a crisis in globalisation that will directly challenge the free market economic model. Graham Turner shows that the housing bubbles in the West were deliberately created to mask the damage inflicted by companies shifting production abroad ...

Real estate finance and investment manual

Updated and revised to include ten years of new developments in real estate investment, Real Estate Finance and Investment Manual, Ninth Edition is the definitive guide to financing for all real estate investors. Understand all the financing options, learn how to choose an appropriate strategy ...

Payment card industry data security standard handbook

The recent plethora of information security and payment card data breaches has created a tremendous amount of problems for consumers, retailers, financial institutions and service providers. "Payment Card Industry Data Security Standard Handbook" addresses the payment card industry standard that includes requirements for security management ...

The subprime solution

how today´s global financial crisis happened, and what to do about it

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 ...

Credit derivatives handbook

global perspectives, innovations, and market drivers

Eds. Greg N. Gregoriou, Paul Ali. This book helps you latch onto the $18 trillion market of credit derivatives. "The Credit Derivatives Handbook" is an authoritative guide to the latest developments in these powerful credit risk-managing tools. Greg Gregoriou brings together more than 20 leading ...

Advances in credit risk modelling and corporate bankruptcy prediction

Eds. Stewart Jones, David A. Hensher. The field of credit risk and corporate bankruptcy prediction has gained considerable momentum following the collapse of many large corporations around the world, and more recently through the sub-prime scandal in the United States. This book provides a thorough ...

Genres of the credit economy

mediating value in Eighteenth- and Nineteenth-century britain

How did banking, borrowing, investing, and even losing money - in other words, participating in the modern financial system - come to seem like routine activities of everyday life? "Genres of the Credit Economy" addresses this question by examining the history of financial instruments and representations of ...

The Crunch

the scandal of Northern Rock and the escalating credit crisis

On 9 August 2007, France's largest bank announced that it had to suspend trading in two huge investment funds it controlled. The same day three German banks revealed that they were close to collapse. A few days later came the first run on a ...