Unintended consequences: why everything you've been told about the economy is wrong

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In the aftermath of the Financial Crisis, many commonly held beliefs have emerged to explain its cause. Conventional wisdom blames Wall Street and the mortgage industry for using low down payments, teaser rates, and other predatory tactics to seduce unsuspecting home owners into assuming mortgages they couldn't afford. It blames average Americans for borrowing recklessly and spending too much. And it blames the tax policies and deregulatory environment of the Reagan and Bush administrations for encouraging reckless risk taking by wealthy individuals and financial institutions. But according to Unintended Consequences , the conventional wisdom masks the real causes of our economic disruption and puts us at risk of facing a slew of unintended - and potentially dangerous - consequences. This book addresses many essential but overlooked questions, such as-

If the United States had become a nation of reckless consumers rather than investors, why did productivity soar in the years leading up to the meltdown? If predatory bankers took advantage of home owners, why did down payments decline, thereby shifting risk from home owners to lenders? If the risks were easy to spot, why did top politi­cal and financial advisers encourage lenders to make unsound investments? If new regulations encourage banks to hold enough capital to fund withdrawals and not just loan losses, how will the economy underwrite the risks necessary to reach full employment?

In an attempt to set the record straight and fill the void left by other analysts, Conard presents a fascinating and contrarian case for how the economy really works, what went wrong over the past decade, and what steps we can take to start growing again.

'This is a wonderful book, filled with wisdom by a guy who really knows what he's talking about. It is must reading for both businessmen and politicians.' John C Whitehead, Former Chairman, Goldman Sachs & Co.; Former Deputy Secretary of State

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ISBN:
9781591845508
9781483053363
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Grouping Information

Grouped Work ID a85412d1-c953-bc09-dab1-24350816f803
Grouping Title unintended consequences why everything you ve been told about the economy is wrong
Grouping Author conard edward
Grouping Category book
Last Grouping Update 2018-08-13 23:20:25PM
Last Indexed 2018-08-14 00:02:47AM

Solr Details

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author Conard, Edward.
author_display Conard, Edward
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collection_catalog Non-Fiction
detailed_location_catalog Main Library - Adult Non-Fiction
display_description Presents a counterintuitive assessment of the financial crisis to identify what the author believes were its actual causes, outlining recommended changes for strengthening the nation's economy.
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local_callnumber_catalog 330.973 C743u
owning_library_catalog Nashville Public Library
owning_location_catalog Main Kids, Main Library
primary_isbn 9781591845508
publishDate 2012
record_details ils:CARL0000395078|Book|Books||English|Portfolio,|2012.|310 p. : ill. ; 24 cm., overdrive:e2fc485e-0df2-424f-a540-00aa9d99fb37|eAudiobook|Audio Books||English|Blackstone Publishing||
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Bib IdItem IdGrouped StatusStatusLocally OwnedAvailableHoldableBookableIn Library Use OnlyLibrary OwnedHoldable PTypesBookable PTypesLocal Url
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subject_facet Finance -- United States, United States -- Economic conditions, United States -- Economic policy
title_display Unintended consequences : why everything you've been told about the economy is wrong
title_full Unintended Consequences Why Everything You've Been Told about the Economy Is Wrong, Unintended consequences : why everything you've been told about the economy is wrong / Edward Conard
title_short Unintended consequences :
title_sub why everything you've been told about the economy is wrong
topic_facet Business, Economic conditions, Economic policy, Finance, Nonfiction