| Edition |
1st ed. |
| Description |
xii, 365 p. ; 25 cm. |
| Bibliography |
Includes bibliographical references (p. [303]-341) and index. |
| Contents |
Godfather -- Golden state -- Purge -- Kill the enemy -- The big spin -- The track -- Buried -- Boil -- The battle for Georgia -- The trial -- Feeding the monster -- Chimera -- The investigators -- The big game -- Collapse. |
| Note |
Chronicles the rise and fall of the subprime mortgage business through the stories of two corporate empires. |
| Summary |
A true-crime expose of the subprime salesmen and Wall Street alchemists who produced the biggest financial scandal in American history. The sales force at Ameriquest Mortgage watched the Hollywood white-collar-crime movie "Boiler Room" as a training tape, studying how to pitch overpriced deals to unsuspecting home owners. They learned how to forge signatures on mortgage paperwork and create fake documents in "cut-and-paste" operations they dubbed "The Lab." Investigative journalist Michael W. Hudson reveals the story of the rise and fall of the subprime mortgage business by chronicling the rise and fall of two corporate empires: Ameriquest and Lehman Brothers. As the biggest subprime lender and Wall Street's biggest patron of subprime, Ameriquest and Lehman did more than any other institutions to create the feeding frenzy that emboldened mortgage pros to flood the nation with high-risk, high-profit home loans.--From publisher description. |
| Subject |
Subprime mortgage loans -- United States.
|
|
Predatory lending -- United States.
|
|
Mortgage-backed securities -- United States.
|
|
Investment banking -- Corrupt practices -- United States.
|
|
Financial crises -- United States.
|
|
Global Financial Crisis, 2008-2009.
|
| ISBN |
9780805090468 |
|
0805090460 |
|
