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All the Devils are Here: The Hidden History of the Financial Crisis

A Proteach Production (UF)

John Fairbanks

on 19 May 2011

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Transcript of All the Devils are Here: The Hidden History of the Financial Crisis

All the Devils are Here: The Hidden History of the Financial Crisis What are your thoughts and opinions on the financial bailouts? Did you have any misconceptions about the financial crisis? How did the book help you re-think these misconceptions? According to the text, who does the author blame the majority of the crisis on? Lenders, investors, ratings companies, homeowners, or the government? "The anger didn’t subside after the danger had passed. If anything, it grew stronger. It would build in waves, crest, and then take aim at a different target." Why wouldn't the anger subside? Who got the brunt end of this anger? Were they the REAL culprits behind the anger? Or were they just the scapegoats? Does it matter? What are your views on homeownership? Do you think that every American should be able to own a home, is it a sign of success, do you want to own a home? According to the reading, sub-prime mortages played an essential role to the financial crisis. However, are sub-prime mortages a necessary risk within the housing industry? According to the author, at what point did the sub-prime lending spin out of control and who were the facilitators? From the title alone, what types of assumptions can one make about how the author views the financial crisis? Do you agree with the authors perspective? Why or why not? “Had Ameriquest been an outlier, that would have been bad enough. But it was not. Its aggressive practices were copied by subprime competitors across the country-because they felt if they didn’t copy Ameriquest, they would lose the business to someone who had. “Well, Ameriquest is doing this,” other companies would say, “Just because Johnny jumped off a bridge doesn’t mean you have to follow.” But they all did jump off the bridge. Including -eventually- the biggest lender of them all: Countrywide.” Based on this quote, how do Allen Greenspan’s ideas about market discipline and anti regulation prove to be woefully incorrect? All the Devils are Here: The Hidden History of the Financial Crisis
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