Bailout Nation

An engaging look at what led to the financial turmoil we now find ourselves in Bailout Nation offers one of the clearest looks at the financial lenders, regulators, and politicians responsible for the financial crisis of 2008. Written by Barry Ritholtz, one of today's most popular economic bloggers and a well-established industry pundit, this book skillfully explores how the United States evolved from a rugged independent nation to a soft Bailout Nation-where financial firms are allowed to self-regulate in good times, but are bailed out by taxpayers in bad times. Entertaining and informative, this book clearly shows you how years of trying to control the economy with easy money has finally caught up with the federal government and how its practice of repeatedly rescuing Wall Street has come back to bite them. The definitive book on the financial crisis of 2008 Names the culprits responsible for this tragedy-from financial regulators to politicians Shows how each bailout throughout modern history has impacted what happened in the future Examines why the consumer/taxpayer is left suffering in an economy of bubbles, bailouts, and possible inflation Ritholtz operates a hugely popular blog, ritholtz.com/blog Scathing, but fair, Bailout Nation is a voice of reason in these uncertain economic times.

An engaging look at what led to the financial turmoil we nowfind ourselves inBailout Nation offers one of the clearest looks at thefinancial lenders, regulators, and politicians responsible for thefinancial crisis of 2008. Written by Barry Ritholtz, one of today'smost popular economic bloggers and a well-established industrypundit, this book skillfully explores how the United States evolvedfrom a rugged independent nation to a soft BailoutNation-where financial firms are allowed to self-regulate ingood times, but are bailed out by taxpayers in bad times.Entertaining and informative, this book clearly shows you howyears of trying to control the economy with easy money has finallycaught up with the federal government and how its practice ofrepeatedly rescuing Wall Street has come back to bite them.* The definitive book on the financial crisis of 2008* Names the culprits responsible for this tragedy-from financialregulators to politicians* Shows how each bailout throughout modern history has impactedwhat happened in the future* Examines why the consumer/taxpayer is left suffering in aneconomy of bubbles, bailouts, and possible inflation* Ritholtz operates a hugely popular blogritholtz.com/blogScathing, but fair, Bailout Nation is a voice of reasonin these uncertain economic times.

Foreword.Acknowledgments.Introduction Bailout Nation.PART I A BRIEF HISTORY OF BAILOUTS.Chapter 1 A Brief History of Bailouts.Chapter 2 The Creation of the Federal Reserve, and Its Role inCreating Our Bailout Nation.Chapter 3 Pre-Bailout Nation (1860-1942).Chapter 4 Industrial-Era Bailouts (1971-1995).Intermezzo A Pattern Emerges.PART II THE MODERN ERA OF BAILOUTS.Chapter 5 Stock Market Bailouts (1987-1995).Chapter 6 The Irrational Exuberance Era (1996-1999).Chapter 7 The Tech Wreck (2000-2003).Chapter 8 The Backwards, Rate-Driven Economy.Intermezzo A Brief History of Finance and Credit.Chapter 9 The Mad Scramble for Yield.PART III MARKET FAILURE.Chapter 10 The Machinery of Subprime.Intermezzo A Memo Found in the Street: Uncle Sam theEnabler.Chapter 11 Radical Deregulation, Nonfeasance.Chapter 12 Strange Connections, Unintended Consequences.Chapter 13 Moral Hazard: Why Bailouts Cause Future Problems.PART IV BAILOUT NATION.Chapter 14 2008: Suicide by Democracy.Chapter 15 The Fall of Bear Stearns.Chapter 16 Dot-Com Penis Envy.Chapter 17 Year of the Bailout, Part I: The Notorious AIG.Chapter 18 The Year of the Bailout, Part II: Too Big toSucceed?Intermezzo Idiots Fiddle While Rome Burns.PART V POST-BAILOUT NATION.Chapter 19 Casting Blame.Chapter 20 Misplaced Fault.Chapter 21 The Virtues of Foreclosure.Chapter 22 Casino Capitalism.Postscript Advice to a New President.Notes.Index.