Customer Reviews

From Your Wallets to Their Pockets: Understanding the Credit Crisis: Privatizing Profits and Socializing Losses

5 star:		(2)
4 star:		(1)
3 star:		(0)
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1 star:		(0)

 

 

This book, by Tony Pallante, nicely captures the history of the U.S. housing/credit industy. It eventually leads us to some interesting observations with respect to the various constituents including the rating agencies, banks, government, mortgage brokers, etc.

The book is perfect for people who are unfamiliar with the details of how this complicated system has evolved, particularly those in other countries who may wonder what happened here.

A good read.

This would have been valuable during my financial and econmic classes in school as it simplifies the history, structure and processes of our complex financial system. This book spells out essential information needed to understand how we've gotten to the economic position that we currently find ourselves. Like many other things if we can better understand how we've gotten where we are, we can better navigate our decisions moving forward. The best part about this book is how simple everything is laid out so those of us without the financial vocabulary normally needed to understand this type material can finally "get it".

Surprisingly, a complicated subject made easy. If you're not familiar with the banking industry and the affect it had with our current financial, read this book. The author, in an easy to understand way, walks you through the history of our financial industry. I now feel educated enough to talk/debate on the subject. I would recommend this book to everyone!