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Chain of Blame: How Wall Street Caused the Mortgage and Credit Crisis [Kindle Edition]

Paul Muolo (Author), Mathew Padilla (Author)

4.7 out of 5 stars See all reviews (3 customer reviews) |

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Length: 352 pages
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Product Description

Review

"Chain of Blame is one of the first books to delve deeply into the central role that big banks played in the mess…for a juicy, name–dropping read, Muolo and Padilla’s book is hard to beat."––BusinessWeek

"Muolo and Padilla examine just who was to blame for the crisis and find that it is not just cowboy operators." (CEO Middle East, September 2008)

“…a level–headed book…the anecdotal style is easy–going...much the best book on the mortgage industry”. Fund Strategy 1 September 2008

“…a ripping piece of reporting… The authors know their stuff.”Bloomberg News Monday 28 July 2008

Review

"...a level-headed book...the anecdotal style is easy-going...much the best book on the mortgage industry".

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Product details

Format: Kindle Edition
File Size: 3103 KB
Print Length: 352 pages
Publisher: John Wiley & Sons, Inc.; 1 edition (8 July 2008)
Sold by: Amazon Media EU S.� r.l.
Language English
ASIN: B001E10Z5E
Text-to-Speech: Enabled

Average Customer Review: 4.7 out of 5 stars See all reviews (3 customer reviews)

Amazon Bestsellers Rank: #228,536 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
- #86 in Books > Business, Finance & Law > Personal Finance > Mortgages

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Paul Muolo

Mathew Padilla

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2 of 2 people found the following review helpful

AS THICK AS TWO SHORT PLANKS.......... 25 Mar 2010

By DOPPLEGANGER TOP 500 REVIEWER

Format:Paperback|Amazon Verified Purchase

......OR JUST PLAIN GREEDY! This excellent book tracks the events leading up to the sub-prime implosion and the horrendous knock-on effect on the world's economy. As an earlier reviewer confirmed the authors Paul Muolo and Mathew Padilla provide a comprehensive and easily graspable insight this unfortunate, lamentable, and with hindsight shabby affair.

Stupidity or greed? The book clearly shows a fair smattering of both. Although a few of the players involved in this whammy have fled the scene, mostly with fortunes adorning their bank accounts, an awful lot of other senior executives during this period remain in place, running the companies. How frightening is that?

Compulsive reading, well researched and written.

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1 of 1 people found the following review helpful

Wanna Be Startin Somethin .. 23 April 2010

By demola

Format:Hardcover

And boy did they! Let's be honest here there's nothing that these greedy mortgage buggers did that wasn't done by the criminal mornarchies and religious apostates (sorry leaders) from time immemorial,that is, lying and robbing the ignorant blind. Before it was the will of a deity or two. Today it's capitalist innovation and freedom and liberty. And somewhere along the way we ditched the egalite. The moral issue (or "bankruptcy" as Gordon Brown so aptly and hypocritically put it) is how do you get businesses to act ethically if one can even define that term wherein lies the real issue. Ethics has come to mean the law and as long as you're only bending and not breaking it then your ethics has been signed off by the state. And when business leaders wake up to mush apologists like City A.M (in London) then we get the narrow self-interested, self-seeking, self-serving "great and good" (= rich even if evil) privileged masters who run the world. Greenspan was once hailed as the most powerful man? banker? in the world and even he dared not step in front of the gravy train while it lasted. You wanna stop the gravy train then you really wanna be starting something.

Back to the book - it's journalism and entertaining and I think the authors have done a very credible job. It is one dimensional in that it's really from the mortgage industry angle only. But if it doesn't get you thinking how we've come to this particular pass then maybe nothing will.

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1 of 2 people found the following review helpful

This is the best explanation of the current crisis 15 Nov 2009

By Mariusz Skonieczny

Format:Hardcover

As our country is facing the most severe economic situation since The Great Depression, this book is a perfect read for those who would like to learn how it all happened. The author says that the capital markets - Wall Street - failed us. He explains the series of events in understandable language.

There is not one individual or organization to blame for the crisis. It is more the combination of individuals and organizations working together. They all focused on only one thing: making money. Wall Street innovated mortgage-backed securities, which allowed more and more money to be allocated toward the housing market. Mortgage companies, wanting to make more money, worked really hard to find borrowers. When good quality borrowers were scarce, they went after less credit-worthy ones. Once these customers defaulted in large numbers, home prices started to fall and the recession began. This book is very educational.

- Mariusz Skonieczny, author of Why Are We So Clueless about the Stock Market? Learn how to invest your money, how to pick stocks, and how to make money in the stock market

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