Gambling with Other People’s Money: How Perverse Incentives Caused the Financial Crisis
CONTENTS
Acknowledgments
Preface to the 2019 Edition
Introduction
1. Gambling with Other People’s Money
2. Did Creditors Expect to Get Rescued?
3. What about Equity Holders?
4. Heads—They Win a Ridiculously Enormous Amount; Tails—They Win Just an Enormous Amount
5. How Creditor Rescue and Housing Policy Combined with Regulation to Blow Up the Housing Market
6. Fannie and Freddie
7. Fannie and Freddie—Cause or Effect?
8. Commercial Banks and Investment Banks
9. Picking Up Nickels
10. Basel—Faulty
11. Where Do We Go from Here?
Index
About the Author