The financial crisis of 2008 : a history of US financial markets 2000-2012 / Barrie A. Wigmore.

Format:

Book

Author/Creator:

Wigmore, Barrie A., author.

Series:

Studies in macroeconomic history.

Studies in macroeconomic history

Language:

English

Subjects (All):

Global Financial Crisis, 2008-2009.

Capital market--United States--History--21st century.

Capital market.

Financial crises--United States--History--21st century.

Financial crises.

Physical Description:

1 online resource (viii, 407 pages) : digital, PDF file(s).

Edition:

1st ed.

Place of Publication:

Cambridge : Cambridge University Press, 2021.

Summary:

Supported by ten years of research, Wigmore has gathered extensive data covering the 2008 financial crisis and subsequent recovery to provide the first comprehensive history of the period. Financial crises cannot occur unless institutional investors finance the bubbles that created them. Wigmore follows the trail of data putting pressure on institutional investors to achieve higher levels of returns that led to over-leverage throughout the financial system and placed such a burden on recovery. Here is a 'very good picture - and painful reminder - of the crisis' evolution across multiple asset classes, structures, participants, and geographies.' This work serves as a critical analysis of modern portfolio management and an important reference work for financial professionals, academics, investors, and students.

Contents:

Cover

Half-title page

Series page

Title page

Copyright page

Dedication

Contents

Introduction

1 The Heritage of the Hi-Tech Bubble 2000-2004

1.1 The End of the Millennium

1.2 The Hi-Tech Bubble Bursts

1.3 Monetary and Fiscal Policies

1.4 Securities Markets

2 The Stretch for Higher Returns 2004-2006

2.1 High Yield Bonds

2.2 Residential Mortgage-Backed Securities

2.3 Commercial Banks

2.4 Investment Banks

2.5 Private Equity

2.6 Mergers and Acquisitions

2.7 Commercial Real Estate

2.8 Hedge Funds

2.9 Foreign Equities

2.10 Securities Lending

2.11 Damage Done

3 The Impending Storm - 2007

3.1 Housing and the Economy

3.2 Securities Markets

3.3 The Belief in Containment

4 The Crisis - 2008

4.1 The First Half of 2008

4.2 The Crisis - Phase 1

4.3 The Crisis - Phase 2

4.4 Chapter Note on the Calendar of Remediation Efforts

5 What Caused the Crisis?

5.1 Consumer Credit and Home Mortgages

5.2 Mortgage Securitization

5.3 Highly Leveraged Corporate Debt

5.4 Commercial Real Estate

5.5 Financial Institutions' Leverage and Risks

5.6 Saving Lehman Brothers?

6 The Initial Obama Administration 2009

6.1 The Continuing Crisis

6.2 Fiscal Policy

6.3 Monetary Policy

6.4 The Extent of Government Efforts

7 Recovery 2010-2012

7.1 Economic Recovery

7.2 Fiscal and Monetary Policies

7.3 Securities Markets

8 Epilogue 2012-2016

Acknowledgments

List of Charts

List of Tables

List of Acronyms

Bibliography

Index.

Notes:

Title from publisher's bibliographic system (viewed on 12 Oct 2021).

ISBN:

9781108950039

1108950035

9781108943802

1108943802

9781108946872

1108946879

OCLC:

1198088560