Reviews
This detailed, thoughtful examination of the GSEs before, during, and after the crisis is a welcome contribution to the historical record of a turbulent time.
Highly recommended.
[Gates] accurately portrays the dysfunctional policies advocated by rapacious industry trade groups, self-styled "consumer advocates," and politicians of all persuasions.
Days of Slaughter provides an insider's view as to what were some economic, political, and management issues that led to the collapse of Freddie Mac.
Susan Wharton Gates was a 19-year veteran of Freddie Mac who departed shortly after conservatorship. Her treatise provides insights to the machinations, both within the walls of Freddie Mac and outside, that preceded the mortgage market crisis. Unique to her account, and what sets it apart from those of other authors, is her first-hand view of the events leading up to the demise of the privately owned GSEs.
A truly excellent book that makes an important contribution to the historical record of the financial crisis, fleshing out key details of what happened during the meltdown of the housing finance system, Days of Slaughter is a balanced discussion of the tensions between Freddie Mac's two business sides. Gates blends analysis and anecdotes from her time at Freddie Mac to keep the pages turning.
Balanced and fair-minded, Days of Slaughter provides a clear and engaging insider’s analysis of what happened at Freddie Mac—and why. Full of fresh and important insights, Gates’s account illuminates the players and the politics, the competing policies and ideologies, and the moral failures that combined to bring down Freddie Mac.
Book Details
Key Acronyms
Acknowledgements
Prologue – Acknowledging the Obvious
Chapter 1. Reckoning Day
Chapter 2. Homeownership: Dream or Nightmare?
Chapter 3. Securitization Breakdown
Chapter 4. Charter Confusion
Key Acronyms
Acknowledgements
Prologue – Acknowledging the Obvious
Chapter 1. Reckoning Day
Chapter 2. Homeownership: Dream or Nightmare?
Chapter 3. Securitization Breakdown
Chapter 4. Charter Confusion
Chapter 5. Affordable Housing
Chapter 6. Subprime Semantics
Chapter 7. Political Capture
Chapter 8. Who's Ultimately Responsible?
Chapter 9. Scandal (s)
Chapter 10. Battle for Credit Leadership
Chapter 11. One Tough Bill
Chapter 12. Stand Up and Say
Chapter 13. The Unraveling
Chapter 14. Sad Goodbyes
Chapter 15. Housing's Future
Chapter 16. Wherefore Ethics?