The crisis of risk : subprime debt and us financial power from 1944 to present / Scott M. Aquanno.

Format:

Book

Author/Creator:

Aquanno, Scott M., author.

Language:

English

Subjects (All):

Subprime mortgage loans--United States.

Subprime mortgage loans.

Global Financial Crisis, 2008-2009.

Debt--United States.

Debt.

United States--Economic conditions--1945-.

United States.

Genre:

History.

Physical Description:

1 online resource (192 pages)

Place of Publication:

Northampton, Massachusetts : Edward Elgar Publishing, [2021]

Summary:

For the last decade, progressive scholars determined to understand the 2008 financial crisis have examined the growth of US subprime mortgage debt in the period leading up to the collapse and how government policy supported this accumulation. However, the long history of the subprime crisis, its connection to the patterns of financial risk designated by the postwar international monetary system, has been all too often overlooked. This book explores the long history of the subprime crisis through an original theoretic lens that sheds light on the institutional basis of global debt markets and the role of US Treasury debt in the international financial system.

Contents:

Front Matter

Copyright

Contents

Preface

1. Subprime markets in global capitalism: history and contradictions

PART I Abstract risk and US financial power

2. Risking finance

3. The power of debt

PART II The deep history of the subprime crisis

4. International bonds and the Bretton Woods era

5. Volcker and the dollar standard

6. Bonding global markets

7. Regulating risk

PART III The subprime crisis as the crisis of risk

8. The risk crisis

9. Management renewed

10. The future of risk in the era of authoritarian capitalism

References

Index.

Notes:

Description based on print version record.

ISBN:

1-80037-083-0