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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.
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ISBN: 9781847940087
Authors:
Alex Brummer
Publisher: Random House UK
Date of Publication: 2008-07-03
Format: Paperback
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.
Condition guide
Book Condition Guide
Books in Like New Condition
This book may contain very minor cosmetic defects, but it is in pristine condition. There should be no yellowing, no foxing, no water damage, and no annotations of any kind on the cover and the pages. For paperbacks, there should not be any crease marks on the spine. This book is good as new — lucky you!
*Books may be missing bundle media (e.g. CD, e-book code), if included.
Books in Very Good Condition
This book has been used, but it is still in a clean condition. There should be no foxing or annotations of any kind on the inner pages, but a sparse amount may be present on the cover, title pages, or outside edges of the book. There should be no water damage of any kind. For paperbacks, there may be light crease marks on the spine.
*Books may be missing bundle media (e.g. CD, e-book code), if included.
Books in Good Condition
We do our best to ensure the quality of our books, but there is no escaping the wear and tear that comes with time. Slight foxing and some annotations may be present on the pages and the cover. There should be no water damage of any kind. For paperbacks, there may be several crease marks on the spine.
*Books may be missing bundle media (e.g. CD, e-book code), if included.
Books in Well Read Condition
This is a well-read book, which means that the previous owner probably really enjoyed it! The cover and pages may include moderate foxing and annotations, but the text is not obscured and still readable. Moderate cosmetic defects and minor water damage may be present on the edges of the book. For paperbacks, there may be multiple crease marks on the spine.
*Books may be missing bundle media (e.g. CD, e-book code), if included.
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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.
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