The Financial Crisis of 2008
A History of US Financial Markets 2000–2012

This must-read for those in the financial business shines new light on puzzles and controversies and dispenses with conventional errors.

Barrie A. Wigmore (Author)

9781108837637, Cambridge University Press

Hardback, published 4 November 2021

450 pages
23.5 x 15.8 x 2.4 cm, 0.8 kg

'The Financial Crisis of 2008 is essential reading for banking, investment, and insurance firm leadership but also for investors, analysts, economists, and students of financial and investment history. It depicts how widespread risk-taking at the firm level can morph into systemwide near collapse and how the mantra of homeownership for all must be considered in light of the associated financial risks and undisciplined creation of asset-backed securities. The book is required reading for a generation.' Janet J. Mangano, Enterprising Investor

Supported by ten years of research, Wigmore has gathered extensive data covering the 2008 financial crisis and subsequent recovery to provide the first comprehensive history of the period. Financial crises cannot occur unless institutional investors finance the bubbles that created them. Wigmore follows the trail of data putting pressure on institutional investors to achieve higher levels of returns that led to over-leverage throughout the financial system and placed such a burden on recovery. Here is a 'very good picture - and painful reminder - of the crisis' evolution across multiple asset classes, structures, participants, and geographies.' This work serves as a critical analysis of modern portfolio management and an important reference work for financial professionals, academics, investors, and students.

Introduction
1. The Heritage of the Hi-Tech Bubble
2. The Stretch for Higher Returns 2004–2006
3. The Impending Storm – 2007
4. The Crisis – 2008
5. What Caused the Crisis?
6. The Initial Obama Administration 2009
7. Recovery 2010–2012
8. Epilogue 2012–2016.

Subject Areas: Finance [KFF], Monetary economics [KCBM], Macroeconomics [KCB], Economics, finance, business & management [K]