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Unravelling the Credit Crunch: (Chapman and Hall/CRC Financial Mathematics Series)

Unravelling the Credit Crunch: (Chapman and Hall/CRC Financial Mathematics Series)


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About the Book

Fascinating Insight into How the Financial System Works and How the Credit Crisis AroseClearly supplies details vital to understanding the crisis Unravelling the Credit Crunch provides a clearly written, comprehensive account of the current credit crisis that is easily understandable to non-specialists. Offering fascinating insight into how the financial system works and how the credit crisis arose, this book provides a clearly written, comprehensive account of the current credit crunch that is easily understandable to non-specialists. It explains how the financial system was drawn into the crunch and the issues that need to be addressed to prevent further disasters. The author supplies detailed descriptions on numerous specialist areas, including credit derivatives, structured finance, and the monoline insurance companies. He also explores accounting and financial regulation and discusses the legacy of the Great Depression and other historical events.

Table of Contents:
Introduction. What Happened? Understanding the Slime: U.S. Residential Mortgages. Financial Assets and Their Prices. Liquidity and Central Banks. The Crash of 1929 and Its Legacy. Securitization, Tranching, and Financial Modeling. The Legacy Fails: Fannie, Freddie, and the Broker/Dealers in 2008. Structured Finance. Municipal Finance and the Monolines. The Rules of the Game: Accounting and Regulation. Changes and Consequences. Index.

About the Author :
David Murphy is principal of rivast Consulting, a leading London risk management consultancy.

Review :
"The crisis is a bafflingly complex phenomenon. This complexity is considerably amplified by the incomprehensible jargon that most experts use to discuss it. This book is the first that I have seen to explain the many different aspects of the crisis in terms that everybody can understand. The coverage is excellent starting with why the crisis started in the housing sector, the role of the Federal Reserve, and so forth. The book also explains securitization, tranching, and many other technical aspects the reader needs to understand what happened. It provides historical context by discussing what happened in the 1930s and the 1990s in Japan. While the U.S. is naturally central, the effect of the crisis on other countries is also discussed. I highly recommend this book to everybody." —Franklin Allen, Nippon Life Professor of Finance and Economics, The Wharton School of the University of Pennsylvania, Philadelphia, USA


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Product Details
  • ISBN-13: 9781439802595
  • Publisher: Taylor & Francis Ltd
  • Publisher Imprint: Chapman & Hall/CRC
  • Language: English
  • ISBN-10: 1439802599
  • Publisher Date: 08 Jun 2009
  • Binding: Digital (delivered electronically)
  • Series Title: Chapman and Hall/CRC Financial Mathematics Series


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