The Story Behind the Mortgage and Housing Meltdown: The Legacy of Greed

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AuthorHouse, 2010 - Business & Economics - 164 pages
Many people think that greedy lenders intent on victimizing unsuspecting borrowers caused the mortgage crisis, saddling them with loans they couldn't afford and taking their houses through foreclosure for later sale at a profit. If that's what you think, you're dead wrong. It was a complex melding of events and opportunities, an economic "perfect storm" that came within a hair's breadth of toppling the American financial system and the economies of numerous other countries. And it didn't have to happen. In this book, Kenneth Clark, a longtime mortgage banker and financial industry insider, talks about the real root causes of the mortgage and housing meltdown and how the government's failures and Wall Street's greed enabled the collapse. But they were by no means alone. The seeds of destruction were sown decades ago by individuals and entities that had no idea of what they would ultimately be helping to bring about.
 

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Contents

The Real Estate Finance Business in America
1
The Crisis Looms
25
Agents of the Apocalypse
37
The Meltdown Begins
49
The Foreclosure Epidemic
65
Living with the Aftermath
81
Taking Back Control and Ending the Black Box Era
93
Im From the Government and Im Here to Help
109
Where Do We Go From Here?
123
Back to the Future
143
Copyright

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About the author (2010)

Kenneth Clark speaks from experience, not from political or financial ambition. His insights will benefit everyone desiring to filter out the buzzwords and gain clarity into why this disaster occurred, and how to prevent it from happening ever again.

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