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Author: Nadine Ehlers Publisher: U of Minnesota Press ISBN: 1452915695 Category : Social Science Languages : en Pages : 241
Book Description
From race-based pharmaceutical prescriptions and marketing, to race-targeted medical “hot spotting” and the Affordable Care Act, to stem-cell trial recruitment discourse, Subprime Health is a timely examination of race-based medicine as it intersects with the concept of debt. The contributors to this volume propose that race-based medicine is inextricable from debt in two key senses. They first demonstrate how the financial costs related to race-based medicine disproportionately burden minorities, as well as how monetary debt and race are conditioned by broader relations of power. Second, the contributors investigate how race-based medicine is related to the concept of indebtedness and is often positioned as a way to pay back the debt that the medical establishment—and society at large—owes for the past and present neglect and abuses of many communities of color. By approaching the subject of race-based medicine from an interdisciplinary perspective—critical race studies, science and technology studies, public health, sociology, geography, and law—this volume moves the discussion beyond narrow and familiar debates over racial genomics and suggests fruitful new directions for future research. Contributors: Ruha Benjamin, Princeton U; Catherine Bliss, U of California, San Francisco; Khiara M. Bridges, Boston U; Shiloh Krupar, Georgetown U; Jenna M. Loyd, U of Wisconsin–Milwaukee; Anne Pollock, Georgia Tech.
Author: Nadine Ehlers Publisher: U of Minnesota Press ISBN: 1452915695 Category : Social Science Languages : en Pages : 241
Book Description
From race-based pharmaceutical prescriptions and marketing, to race-targeted medical “hot spotting” and the Affordable Care Act, to stem-cell trial recruitment discourse, Subprime Health is a timely examination of race-based medicine as it intersects with the concept of debt. The contributors to this volume propose that race-based medicine is inextricable from debt in two key senses. They first demonstrate how the financial costs related to race-based medicine disproportionately burden minorities, as well as how monetary debt and race are conditioned by broader relations of power. Second, the contributors investigate how race-based medicine is related to the concept of indebtedness and is often positioned as a way to pay back the debt that the medical establishment—and society at large—owes for the past and present neglect and abuses of many communities of color. By approaching the subject of race-based medicine from an interdisciplinary perspective—critical race studies, science and technology studies, public health, sociology, geography, and law—this volume moves the discussion beyond narrow and familiar debates over racial genomics and suggests fruitful new directions for future research. Contributors: Ruha Benjamin, Princeton U; Catherine Bliss, U of California, San Francisco; Khiara M. Bridges, Boston U; Shiloh Krupar, Georgetown U; Jenna M. Loyd, U of Wisconsin–Milwaukee; Anne Pollock, Georgia Tech.
Author: Tim Hwang Publisher: FSG Originals ISBN: 0374721246 Category : Business & Economics Languages : en Pages : 103
Book Description
From FSGO x Logic: a revealing examination of digital advertising and the internet's precarious foundation In Subprime Attention Crisis, Tim Hwang investigates the way big tech financializes attention. In the process, he shows us how digital advertising—the beating heart of the internet—is at risk of collapsing, and that its potential demise bears an uncanny resemblance to the housing crisis of 2008. From the unreliability of advertising numbers and the unregulated automation of advertising bidding wars, to the simple fact that online ads mostly fail to work, Hwang demonstrates that while consumers’ attention has never been more prized, the true value of that attention itself—much like subprime mortgages—is wildly misrepresented. And if online advertising goes belly-up, the internet—and its free services—will suddenly be accessible only to those who can afford it. Deeply researched, convincing, and alarming, Subprime Attention Crisis will change the way you look at the internet, and its precarious future. FSG Originals × Logic dissects the way technology functions in everyday lives. The titans of Silicon Valley, for all their utopian imaginings, never really had our best interests at heart: recent threats to democracy, truth, privacy, and safety, as a result of tech’s reckless pursuit of progress, have shown as much. We present an alternate story, one that delights in capturing technology in all its contradictions and innovation, across borders and socioeconomic divisions, from history through the future, beyond platitudes and PR hype, and past doom and gloom. Our collaboration features four brief but provocative forays into the tech industry’s many worlds, and aspires to incite fresh conversations about technology focused on nuanced and accessible explorations of the emerging tools that reorganize and redefine life today.
Author: Mark Zandi Publisher: FT Press ISBN: 0137004214 Category : Business & Economics Languages : en Pages : 283
Book Description
“The obvious place to start is the financial crisis and the clearest guide to it that I’ve read is Financial Shock by Mark Zandi. ... it is an impressively lucid guide to the big issues.” – The New York Times “In Financial Shock, Mr. Zandi provides a concise and lucid account of the economic, political and regulatory forces behind this binge.” – The Wall Street Journal “Aggressive builders, greedy lenders, optimistic home buyers: Zandi succinctly dissects the mortgage mess from start to (one hopes) finish.” – U.S. News and World Report “A more detailed look at the crisis comes from economist Mark Zandi, co-founder of Moody's Economy.com. His “Financial Shock” delves deeply into the history of the mortgage market, the bad loans, the globalization of trashy subprime paper and how homebuilders ran amok. Zandi's analysis is eye-opening. ... he paints an impressive, more nuanced picture.” – Kiplinger's Personal Finance Magazine “If you wonder how it could be possible for a subprime mortgage loan to bring the global financial system and the U.S. economy to its knees, you should read this book. No one is better qualified to provide this insight and advice than Mark Zandi.” –Larry Kudlow, Host, CNBC’s Kudlow & Company “Every once in a while a book comes along that’s so important, it commands recognition. This is one of them. Zandi provides a rilliant blow-by-blow account of how greed, stupidity, and recklessness brought the first major economic crises of the 21st entury and the most serious since the Great Depression.” –Bernard Baumohl,Managing Director, The Economic Outlook Group and best-selling author, The Secrets of Economic Indicators “Throughout the financial crisis Mark Zandi has played two important roles. He has insightfully analyzed its causes and thoughtfully recommended steps to alleviate it. This book continues those tasks and adds a third–providing a comprehensive and comprehensible explanation of the issues that is accessible to the general public and extremely useful to those who specialize in the area.” –Barney Frank, Chairman, House Financial Services Committee The subprime crisis created a gigantic financial catastrophe. What happened? How did it happen? How can we prevent similar crises from happening again? Mark Zandi answers all these critical questions–systematically, carefully, and in plain English. Zandi begins with a fast-paced overview and then illuminates the deepest causes, from the psychology of homeownership to Alan Greenspan’s missteps. You’ll see the home “flippers” at work and the real estate agents who cheered them on. You’ll learn how Internet technology and access to global capital transformed the mortgage industry, helping irresponsible lenders drive out good ones. Zandi demystifies the complex financial engineering that enabled lenders to hide deepening risks, shows how global investors eagerly bought in, and explains how flummoxed regulators failed to prevent disaster, despite crucial warning signs. Most important, Zandi offers indispensable advice for investors who must recognize emerging bubbles, policymakers who must improve oversight, and citizens who must survive whatever comes next. Liar’s loans, flippers, predatory lenders, delusional homebuilders How the housing market came unhinged, and the whirlwind came together Alan Greenspan’s trillion-dollar bet Betting on the boom, ignoring the bubble The subprime market goes global Worldwide investors get a piece of the action–and reap the results Wall Street’s alchemists: conjuring up Frankenstein New financial instruments and their hidden contents Back to the future: risk management for the 21st century Respecting the “animal spirits” that drive even the most sophisticated markets
Author: Robert J. Shiller Publisher: Princeton University Press ISBN: 0691156328 Category : Business & Economics Languages : en Pages : 224
Book Description
A best-selling economist reveals the origins of the subprime mortgage crisis and puts forward bold measures to resolve it by restructuring the institutional foundations of the financial system in a thoughtful study by the author of Irrational Exuberance. First serial, The Atlantic.
Author: Adam B. Ashcraft Publisher: DIANE Publishing ISBN: 1437925146 Category : Languages : en Pages : 76
Book Description
Provides an overview of the subprime mortgage securitization process and the seven key informational frictions that arise. Discusses the ways that market participants work to minimize these frictions and speculate on how this process broke down. Continues with a complete picture of the subprime borrower and the subprime loan, discussing both predatory borrowing and predatory lending. Presents the key structural features of a typical subprime securitization, documents how rating agencies assign credit ratings to mortgage-backed securities, and outlines how these agencies monitor the performance of mortgage pools over time. The authors draw upon the example of a mortgage pool securitized by New Century Financial during 2006. Illustrations.
Author: Richard Bitner Publisher: John Wiley & Sons ISBN: 0470402199 Category : Business & Economics Languages : en Pages : 166
Book Description
Former subprime lender Richard Bitner once worked in an industry that started out helping disadvantaged customers but collapsed due to greed, lack of financial control and willful ignorance. In Confessions of a Subprime Lender: An Insider's Tale of Greed, Fraud, and Ignorance, he reveals the truth about how the subprime lending business spiraled out of control, pushed home prices to unsustainable levels, and turned unqualified applicants into qualified borrowers through creative financing. Learn about the ways the mortgage industry can be fixed with his twenty suggestions for critical change.
Author: Ludwig B. Chincarini Publisher: John Wiley & Sons ISBN: 111828271X Category : Business & Economics Languages : en Pages : 514
Book Description
A rare analytical look at the financial crisis using simple analysis The economic crisis that began in 2008 revealed the numerous problems in our financial system, from the way mortgage loans were produced to the way Wall Street banks leveraged themselves. Curiously enough, however, most of the reasons for the banking collapse are very similar to the reasons that Long-Term Capital Management (LTCM), the largest hedge fund to date, collapsed in 1998. The Crisis of Crowding looks at LTCM in greater detail, with new information, for a more accurate perspective, examining how the subsequent hedge funds started by Meriwether and former partners were destroyed again by the lapse of judgement in allowing Lehman Brothers to fail. Covering the lessons that were ignored during LTCM's collapse but eventually connected to the financial crisis of 2008, the book presents a series of lessons for hedge funds and financial markets, including touching upon the circle of greed from homeowners to real estate agents to politicians to Wall Street. Guides the reader through the real story of Long-Term Capital Management with accurate descriptions, previously unpublished data, and interviews Describes the lessons that hedge funds, as well as the market, should have learned from LTCM's collapse Explores how the financial crisis and LTCM are a global phenomena rooted in failures to account for risk in crowded spaces with leverage Explains why quantitative finance is essential for every financial institution from risk management to valuation modeling to algorithmic trading Is filled with simple quantitative analysis about the financial crisis, from the Quant Crisis of 2007 to the failure of Lehman Brothers to the Flash Crash of 2010 A unique blend of storytelling and sound quantitative analysis, The Crisis of Crowding is one of the first books to offer an analytical look at the financial crisis rather than just an account of what happened. Also included are a layman's guide to the Dodd-Frank rules and what it means for the future, as well as an evaluation of the Fed's reaction to the crisis, QE1, QE2, and QE3.
Author: Peter J. Wallison Publisher: Encounter Books ISBN: 159403866X Category : Business & Economics Languages : en Pages : 331
Book Description
The 2008 financial crisis—like the Great Depression—was a world-historical event. What caused it will be debated for years, if not generations. The conventional narrative is that the financial crisis was caused by Wall Street greed and insufficient regulation of the financial system. That narrative produced the Dodd-Frank Act, the most comprehensive financial-system regulation since the New Deal. There is evidence, however, that the Dodd-Frank Act has slowed the recovery from the recession. If insufficient regulation caused the financial crisis, then the Dodd-Frank Act will never be modified or repealed; proponents will argue that doing so will cause another crisis. A competing narrative about what caused the financial crisis has received little attention. This view, which is accepted by almost all Republicans in Congress and most conservatives, contends that the crisis was caused by government housing policies. This book extensively documents this view. For example, it shows that in June 2008, before the crisis, 58 percent of all US mortgages were subprime or other low-quality mortgages. Of these, 76 percent were on the books of government agencies such as Fannie Mae and Freddie Mac. When these mortgages defaulted in 2007 and 2008, they drove down housing prices and weakened banks and other mortgage holders, causing the crisis. After this book is published, no one will be able to claim that the financial crisis was caused by insufficient regulation, or defend Dodd-Frank, without coming to terms with the data this book contains.
Author: Gary B. Gorton Publisher: Oxford University Press ISBN: 0199742111 Category : Business & Economics Languages : en Pages : 232
Book Description
Originally written for a conference of the Federal Reserve, Gary Gorton's "The Panic of 2007" garnered enormous attention and is considered by many to be the most convincing take on the recent economic meltdown. Now, in Slapped by the Invisible Hand, Gorton builds upon this seminal work, explaining how the securitized-banking system, the nexus of financial markets and instruments unknown to most people, stands at the heart of the financial crisis. Gorton shows that the Panic of 2007 was not so different from the Panics of 1907 or of 1893, except that, in 2007, most people had never heard of the markets that were involved, didn't know how they worked, or what their purposes were. Terms like subprime mortgage, asset-backed commercial paper conduit, structured investment vehicle, credit derivative, securitization, or repo market were meaningless. In this superb volume, Gorton makes all of this crystal clear. He shows that the securitized banking system is, in fact, a real banking system, allowing institutional investors and firms to make enormous, short-term deposits. But as any banking system, it was vulnerable to a panic. Indeed the events starting in August 2007 can best be understood not as a retail panic involving individuals, but as a wholesale panic involving institutions, where large financial firms "ran" on other financial firms, making the system insolvent. An authority on banking panics, Gorton is the ideal person to explain the financial calamity of 2007. Indeed, as the crisis unfolded, he was working inside an institution that played a central role in the collapse. Thus, this book presents the unparalleled and invaluable perspective of a top scholar who was also a key insider.
Author: Nadine Ehlers Publisher: U of Minnesota Press ISBN: 145296050X Category : Social Science Languages : en Pages : 231
Book Description
A trenchant analysis of the dark side of regulatory life-making today In their seemingly relentless pursuit of life, do contemporary U.S. “biocultures”—where biomedicine extends beyond the formal institutions of the clinic, hospital, and lab to everyday cultural practices—also engage in a deadly endeavor? Challenging us to question their implications, Deadly Biocultures shows that efforts to “make live” are accompanied by the twin operation of “let die”: they validate and enhance lives seen as economically viable, self-sustaining, productive, and oriented toward the future and optimism while reinforcing inequitable distributions of life based on race, class, gender, and dis/ability. Affirming life can obscure death, create deadly conditions, and even kill. Deadly Biocultures examines the affirmation to hope, target, thrive, secure, and green in the respective biocultures of cancer, race-based health, fatness, aging, and the afterlife. Its chapters focus on specific practices, technologies, or techniques that ostensibly affirm life and suggest life’s inextricable links to capital but that also engender a politics of death and erasure. The authors ultimately ask: what alternative social forms and individual practices might be mapped onto or intersect with biomedicine for more equitable biofutures?
Author: Nadine Ehlers
Author: Nadine Ehlers
Author: Tim Hwang
Author: Mark Zandi
Author: Robert J. Shiller
Author: Adam B. Ashcraft
Author: Richard Bitner
Author: Ludwig B. Chincarini
Author: Peter J. Wallison
Author: Gary B. Gorton
Author: Nadine Ehlers