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  • I***N:9780425233764
  • 作者:暂无作者
  • 出版社:暂无出版社
  • 出版时间:2010-4
  • 页数:354
  • 价格:102.00元
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内容简介:

Now in paperback-an inside look at Countrywide Home Loans and the mortgage crisis, from a former mortgage lender executive.

In July 2004, Adam Michaelson attended a high-level meeting at Countrywide Financial headquarters about a new loan product that would allow borrowers to pay less than their minimum monthly payment. The "finance jocks" believed that the booming housing market would only get bigger, ***ing homeowners in a cycle of borrowing against their houses and refinancing later. They were wrong. And when the bottom dropped out, Countrywide suffered the c***equences-as did milli*** of Americans.

With an insider's knowledge and thorough reporting on the impact on American families and the ripple effects on the economy, Michaelson examines the marketing of a mirage and the bad business decisi*** that destroyed a company, confronts the ethical questi*** that have arisen in the wake of the foreclosure crisis, and offers creative proposals to prevent such a meltdown from ever happening again.


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书籍介绍

Now in paperback-an inside look at Countrywide Home Loans and the mortgage crisis, from a former mortgage lender executive.

In July 2004, Adam Michaelson attended a high-level meeting at Countrywide Financial headquarters about a new loan product that would allow borrowers to pay less than their minimum monthly payment. The "finance jocks" believed that the booming housing market would only get bigger, ***ing homeowners in a cycle of borrowing against their houses and refinancing later. They were wrong. And when the bottom dropped out, Countrywide suffered the c***equences-as did milli*** of Americans.

With an insider's knowledge and thorough reporting on the impact on American families and the ripple effects on the economy, Michaelson examines the marketing of a mirage and the bad business decisi*** that destroyed a company, confronts the ethical questi*** that have arisen in the wake of the foreclosure crisis, and offers creative proposals to prevent such a meltdown from ever happening again.


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