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The Crunch

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Appeal of the book: Gripping insider account of the global financial crisis.

Recommendation: "The Crunch" is a must-read for anyone interested in understanding the complexities of the global financial crisis. Through the lens of greed, mismanagement, and government paralysis, Alex Brummer provides a gripping insider account that will leave you both shocked and enlightened. This book exposes the devastating impact on individuals and the economy, making it impossible to ignore the lasting consequences of this crisis.

Note: While we do our best to ensure the accuracy of cover images, ISBNs may at times be reused for different editions of the same title which may hence appear as a different cover.
Sale

The Crunch

Regular price RM33.06 MYR Now RM14.49 MYR Save 56%
Unit price
per
ISBN: 9781847940087
Authors: Alex Brummer
Publisher: Random House UK
Date of Publication: 2008-07-03
Format: Paperback
Related Collections: Economics, Business, History
Related Topics: Finance
Goodreads rating: 3.36
(rated by 36 readers)

Description

On August 9, 2007 France's largest bank announced that it would suspend trading in two huge investment funds it controlled. The same day three German banks revealed that they were close to collapse. A few days later came the first run on a British bank since the 1860s as vast queues of worried investors besieged Northern Rock. Within weeks, the government was forced to bail out this previously little known bank to the tune of £30 billion, share prices in other mortgage lenders were plummeting, and alarming news arose from several banks in the United States. Award-winning journalist Alex Brummer painstakingly traces the course of this crisis from its origins in the subprime market to its explosion on to the international scene. It is a story of greed, mismanagement, and dithering in which bankers seeking to make a quick buck, regulators engaged in turf wars and blame-avoidance, and governments paralyzed by the sheer scale of the problem all conspired to bring the banking system almost to its knees. It is also a story of the 1.5 million people in the US who have already been thrown out of their houses; the entire population of the UK who have been co-opted to guarantee Northern Rock with £30 billion of public money; borrowers everywhere who are now finding credit more expensive and harder to get.
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Appeal of the book: Gripping insider account of the global financial crisis.

Recommendation: "The Crunch" is a must-read for anyone interested in understanding the complexities of the global financial crisis. Through the lens of greed, mismanagement, and government paralysis, Alex Brummer provides a gripping insider account that will leave you both shocked and enlightened. This book exposes the devastating impact on individuals and the economy, making it impossible to ignore the lasting consequences of this crisis.

Note: While we do our best to ensure the accuracy of cover images, ISBNs may at times be reused for different editions of the same title which may hence appear as a different cover.