¶ … Devils are Here" Book Review
Since the financial crisis started in 2008, there have been many who have tried to write a comprehensive analysis. A new book by Bethany McLean and Joe Nocera called All the Devils are Here is not a new take on the crisis, but it has the element of time on its side. Since the crisis started three years ago, now id the time to release a well-researched book about how it all happened. The authors chronologically tell the tale of how "The seeds of financial disaster were sown more than thirty years ago when three smart, ambitious men…created a shiny new financial vehicle called the mortgage-backed security" (McLean & Nocera, 2011). This book is an insightful look at "the fog behind the 2008 financial crisis" (Drea, 2011), and it helps to lift that fog by going back to the beginnings of the crisis, and listing those culpable regardless of political affiliation.
On the first page of the first chapter of the book, the authors begin to castigate the people who were the real players behind the mortgage crisis. Many of the people who could later be seen to make some of the most foolish financial decisions ever made were originally thought to be financial geniuses. The reasons that their decisions seemed sound is that they used the mortgage-backed securities scheme to make money that was actually based on a very insecure premise.
The Fidelity website describes them as "securities that allow you to invest in mortgage loans. Each security consists of a collection, or "pool" of loans made to homeowners. These loans are backed by a pool of real estate pledges that secure the loans. These real estate pledges serve as the underlying assets of the MBS" (Fidelity, 2011). This can be a good type of loan except for the fact that it is a security that can be easily undermined if the mortgages were given to people to default on them or a correction in housing prices is imminent. The reason that people made a lot of money initially on this type of investment is that the housing market was strong, but unfortunately it did not remain so....
Book Review: The Boy Who Was Raised as a Dog and Other Stories from a Psychiatrist�s NotebookWhen a newborn enters this world, he is unaware that what he experienced inside his mother�s womb would be totally in contrast to his experiences in the outside world. The book �The Boy Who Was Raised as a Dog and Other Stories from a Psychiatrist�s Notebook� accounts for traumatic children who have undergone miserable
Courting Disaster This study reviews Pat Robertson's "Courting disaster: How the Supreme Court is usurping the power of Congress and the people." Pat Robertson is the founder and chairperson of the Christian Broadcasting Network, founder of Regent University, and The Center for Law and Justice. He and his wife have four children and thirteen grandchildren. They reside in Virginia Beach, Virginia. Using both legal and religious points-of-view, Robertson attempts to prove
These Gods subjugated humans in a way that never happened in other primitive river-valley cultures yet seemed to follow a political will as the concept evolved. This finally culminates in the marriage between the God of Above, Nergal, lord of Summer, Growth and Heat; and the Goodness of the Below, Ereshkigal, queen of the underworld, Winter, the Cold, and of Death. We now have opposites, attracted, and yet polarized
QUESTION #2: Was John Proctor essentially a good man? Yes, Proctor was a good man in his heart; he made a mistake by getting involved with Abigail, but when she came back to him hoping to rekindle the flame between them, he turned down the chance for another sexual liaison with a woman much younger than his wife. When the community began to turn hysterical, Proctor was a voice of
It seems to her, says Flaubert, that her being, rising toward God, is going to be annihilated in love like burning incense that dissipates in vapor. But her response during this phenomenon remains curiously erotic... The waving of the green palm leaves relates this scene to the previous scenes of sexual seduction. (Duncan para, 5) At times, the green in the novel moves from springtime to the idea of the
Specific legislation on rights of way would have to be enacted separately in order to apply to any of the other parks (for instance, the 1915 act creating Rocky Mountain National Park contained rights of way). (Winks 1997) Powers Under the Act of 1970 act, Congress proceeded to create new National Recreation Areas, including "urban parks." The act clearly strengthened the Park Service to protect park units in all ways by
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