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The Crunch, How Greed and Incompetence Sparked the Credit Crisis - Alex Brummer
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On 9 August 2007 France's largest bank announced that it had 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 British bank since the 1860s as vast queues of worried investors besieged Northern Rock. Within weeks, the Government were being forced to bail out this previously little-known bank to the tune of e30 billion, share prices in other mortgage lenders were plummeting, and alarming news about the state of several of the biggest US banks was crossing the Atlantic. What lay behind this series of crippling disasters?In The Crunch, award-winning journalist Alex Brummer painstakingly traces the course of the crisis from its origins in the US 'subprime' market to its explosion on to the international scene. It's a story of greed, mismanagement and dithering in which bankers seeking to make a quick buck, regulators engaged in turf wars and blame-avoidance, and governments paralysed by the sheer scale of the problem all conspired to bring the banking system almost to its knees. It's also a story of victims- the millions of people in the US who have already been thrown out of their houses, the entire population of the UK who have been co-opted to guarantee Northern Rock with e30 billion of public money, borrowers everywhere who are now finding credit more expensive and harder to get. And, as Alex Brummer convincingly argues, now that recession looms, this is only the beginning. The Crunch, How Greed and Incompetence Sparked the Credit Crisis - Alex Brummer. Random House Business Books 2009. ISBN 9781847940094
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Title: The Crunch
Sub Title: How Greed and Incompetence Sparked the Credit Crisis
Author: Alex Brummer
Publisher: Random House Business Books
Year: 2009
Number of pages: 272
ISBN: 9781847940094
Books are all in a used condition unless otherwise stated and may contain signs of wear and handling. Items are inspected before listing to ensure they are in an acceptable condition. Please ask questions if you need more details on an item's condition.Books are shipped within one business day of checkout. If you select EFT as payment method, it may take somewhat longer for payment to reflect on our side before we are able to dispatch.
We offer Pargo Pickup (3-5 business days), local collection in Somerset West or Aramex door-to-door courier (1-2 business days). Shipping options can be selected at checkout.
We recommend Aramex courier as a fast no-contact delivery method available to all destinations within South Africa. Tracking number will be supplied once your shipment has been been processed.
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