And Then the Roof Caved In
How Wall Street's Greed and Stupidity Brought Capitalism to Its Knees
By David Faber
(Wiley, Hardcover, 9780470474235, 208pp.)
Publication Date: June 2009
Other Editions of This Title: Paperback
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CNBC's David Faber takes an in-depth look at the causes and consequences of the recent financial collapse
And Then the Roof Caved In lays bare the truth of the credit crisis, whose defining emotion at every turn has been greed, and whose defining failure is the complicity of the U.S. government in letting that greed rule the day. Written by CNBC's David Faber, this book painstakingly details the truth of what really happened with compelling characters who offer their first-hand accounts of what they did and why they did it.
Page by page, Faber explains the events of the previous seven years that planted the seeds for the worst economic crisis since the Great Depression. He begins in 2001, when the Federal Reserve embarked on an unprecedented effort to help the economy recover from the attacks of 9/11 by sending interest rates to all time lows. Faber also gives you an up-close look at where the crisis was incubated and unleashed upon the world-Wall Street-and introduces you to insiders from investment banks and mortgage lenders to ratings agencies, that unwittingly conspired to insure lending standards were abandoned in the head long rush for profits.
- Based on two years of research, this book provides deep background into the current credit crisis
- Offers the insights of experienced professionals-from Alan Greenspan to prominent bankers and regulators-who were on the front lines
- Created by David Faber, the face of morning business news on CNBC, and host of the network's award winning documentaries
From regulators who tried to stop this problem before it swung out of control to hedge fund managers who correctly foresaw the coming housing crash and profited from it, And Then the Roof Caved In shows you how the crisis we currently face came to be.
David Faber, an Emmy, Peabody, and duPont Award winner, is the anchor and coproducer of CNBC's acclaimed original documentaries and long-form programming as well as a contributor to CNBC's Squawk on the Street. He has been reporting on Wall Street and corporate America for over twenty-two years, sixteen of them as the foremost reporter at CNBC. Faber has broken numerous stories including the massive fraud at WorldCom and News Corp.'s hostile bid for Dow Jones. He was a founding member of CNBC's signature morning show, Squawk Box. Faber also blogs at FaberReport.cnbc.com.