Crisis Cause, Containment and Cure torrent

Crisis: Cause, Containment and Cure
554 pages | Sep 22 2010 |ISBN: 0230236189 | PDF



During the crisis that started in August 2007 and persisted into 2009, asset values also plummeted. For the first time in a generation, housing prices fell. Stock prices crashed. Bond prices declined sharply. Overall, the fall in household assets in the United States alone amounted to over $12 trillion.1 Savings have been ravaged, and pensions are at risk. Unemployment rose and will continue to rise. By June 2009 over 20 million people had lost their jobs as a result of the crisis. They have not all been bankers. Auto assembly workers, barkeepers, carpenters, delivery boys, editors, farmers