{"product_id":"senseless-panic-how-washington-failed-america-paperback-softback-9781118431986","title":"Senseless Panic; How Washington Failed America (Paperback \/ softback) 9781118431986","description":"\u003cfont face=\"Georgia\"\u003e\r\n\u003cp\u003e\u003cfont size=\"6\"\u003eSenseless Panic\u003c\/font\u003e\u003cbr\u003e\r\n\u003cfont size=\"5\"\u003eHow Washington Failed America\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\r\n\u003cp\u003e\u003cfont size=\"4\"\u003eWilliam M. Isaac (Author), Philip C. Meyer (With), Paul A. Volcker (Foreword by)\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e9781118431986, Wiley\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003ePaperback \/ softback, published 10 August 2012\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e240 pages\u003cbr\u003e23.1 x 15.5 x 1.8 cm, 0.299 kg\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\r\n\r\n\u003cp align=\"justify\"\u003e\u003cstrong\u003e\u003cfont size=\"3\"\u003e\u003cb\u003eThe truth about the 2008 economic crisis from a Washington insider\u003c\/b\u003e  \u003cp\u003eThe 1980s opened with the prime interest rate at an astonishing 21.5 percent, leading to a severe recession with unemployment reaching nearly 11 percent. Depression-like conditions befell the country, the entire thrift industry was badly insolvent and the major money center banks were loaded with third world debt. Some 3,000 bank and thrifts failed, including nine of Texas’ ten largest, and Continental Illinois, which, at the time, was the seventh largest bank in the nation. These severe conditions were not only handled without creating a panic, the economy actually embarked on the longest peacetime expansion in history.\u003c\/p\u003e \u003cp\u003e\u003ci\u003eIn Senseless Panic: How Washington Failed America\u003c\/i\u003e, William M. Isaac, Chairman of the Federal Deposit Insurance Corporation (FDIC) during the banking and S\u0026amp;L crises of the 1980s, details what was different about 2008’s meltdown that allowed the failure of a comparative handful of institutions to nearly shut down the world’s financial system. The book also tells the rousing story of Isaac’s time at the FDIC.\u003c\/p\u003e \u003cul\u003e \u003cli\u003eDetails the mistakes that led to the panic of 2008 and 2009\u003c\/li\u003e \u003cli\u003eAn updated paperback revision of the bestselling book on the 2008 economic crisis, including a fascinating new Epilogue\u003c\/li\u003e \u003cli\u003eDemystifies the conditions America faced in 2008\u003c\/li\u003e \u003cli\u003eProvides a road map for avoiding similar shutdowns and panics in the future\u003c\/li\u003e \u003cli\u003eIncludes a foreword by Federal Reserve Chairman Paul Volcker\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003e\u003ci\u003eSenseless Panic\u003c\/i\u003e is a provocative, quick-paced, and thoughtful analysis of what went wrong with the nation's banking system, a blunt indictment of United States policy, and a road map for making sure it doesn’t happen again.\u003c\/p\u003e\u003c\/font\u003e\u003c\/strong\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eForeword ix  \u003cp\u003eAcknowledgments xiii\u003c\/p\u003e \u003cp\u003eIntroduction xv\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart One: No Calm Before the Storm 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 1 Home Alone 3\u003c\/p\u003e \u003cp\u003eChapter 2 The Early Years (1978 –1981) 13\u003c\/p\u003e \u003cp\u003eChapter 3 The Savings Bank and S\u0026amp;L Crises 22\u003c\/p\u003e \u003cp\u003eChapter 4 Penn Square Fails 29\u003c\/p\u003e \u003cp\u003eChapter 5 The Butcher Empire Collapses 47\u003c\/p\u003e \u003cp\u003eChapter 6 Deposit Insurance Reform\/Tackling Wall Street 53\u003c\/p\u003e \u003cp\u003eChapter 7 Continental Illinois Topples 64\u003c\/p\u003e \u003cp\u003eChapter 8 Preparing to Leave 86\u003c\/p\u003e \u003cp\u003eChapter 9 Lessons Learned 92\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart Two: Here We Go Again 99\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 10 Policy Mistakes—1989 through 2007 101\u003c\/p\u003e \u003cp\u003eChapter 11 The Subprime Mortgage Problem 113\u003c\/p\u003e \u003cp\u003eChapter 12 SEC and FASB Blunders 118\u003c\/p\u003e \u003cp\u003eChapter 13 Schizophrenic Failure Resolution 131\u003c\/p\u003e \u003cp\u003eChapter 14 The $700 Billion Bailout 148\u003c\/p\u003e \u003cp\u003eChapter 15 Never Again 161\u003c\/p\u003e \u003cp\u003eAfterword 177\u003c\/p\u003e \u003cp\u003eEpilogue 180\u003c\/p\u003e \u003cp\u003eAuthors’ Notes on Sources 208\u003c\/p\u003e \u003cp\u003eAbout the Authors 209\u003c\/p\u003e \u003cp\u003eIndex 211\u003c\/p\u003e\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eSubject Areas: Finance \u0026amp; accounting [\u003ca title=\"See our other books on Finance \u0026amp; accounting\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Finance%20\u0026amp;%20accounting%20%5BKF%5D%22\"\u003eKF\u003c\/a\u003e]\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003c\/font\u003e","brand":"Wiley","offers":[{"title":"Brand New","offer_id":52417774190872,"sku":"9781118431986","price":12.85,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0730\/2037\/5320\/files\/9781118431986.jpg?v=1784508045","url":"https:\/\/freshlyprintedbooks.co.uk\/products\/senseless-panic-how-washington-failed-america-paperback-softback-9781118431986","provider":"Freshly Printed Books","version":"1.0","type":"link"}