Senseless Panic

How Washington Failed America

Business & Finance, Economics, Economic Conditions
Cover of the book Senseless Panic by William M. Isaac, Wiley
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: William M. Isaac ISBN: 9780470649299
Publisher: Wiley Publication: May 13, 2010
Imprint: Wiley Language: English
Author: William M. Isaac
ISBN: 9780470649299
Publisher: Wiley
Publication: May 13, 2010
Imprint: Wiley
Language: English

The 1980s opened with the prime interest rate at an astonishing 21.5 percent, leading to a severe recession with unemployment reaching nearly 11 percent. Depression-like conditions befell the agricultural sector, a bubble burst in the energy sector, a rolling real estate recession swept the country, the entire thrift industry was badly insolvent and the major money center banks were loaded with third world debt. Some 3,000 bank and thrifts failed, including nine of Texas’ 10 largest, and Continental Illinois, which, at the time, was the 7thlargest bank in the nation. These severe conditions were not only handled without creating a panic, the economy actually embarked on the longest peacetime expansion in history.

In Senseless Panic: How Washington Failed America, William M. Isaac, Chairman of the Federal Deposit Insurance Corporation (FDIC) during the banking and S&L crises of the 1980s, details what was different about 2008’s meltdown that allowed the failure of a comparative handful of institutions to nearly shut down the world’s financial system. The book also tells the rousing story of Isaac’s time at the FDIC. With accessible and engaging prose, Isaac:

  • Details the mistakes that led to the panic of 2008 and 2009
  • Demystifies the conditions America faced in 2008, and
  • Provides a roadmap for avoiding similar shutdowns and panics in the future

Senseless Panicis a provocative, quick-paced, and thoughtful analysis of what went wrong with the nation's banking system and a blunt indictment of United States policy.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

The 1980s opened with the prime interest rate at an astonishing 21.5 percent, leading to a severe recession with unemployment reaching nearly 11 percent. Depression-like conditions befell the agricultural sector, a bubble burst in the energy sector, a rolling real estate recession swept the country, the entire thrift industry was badly insolvent and the major money center banks were loaded with third world debt. Some 3,000 bank and thrifts failed, including nine of Texas’ 10 largest, and Continental Illinois, which, at the time, was the 7thlargest bank in the nation. These severe conditions were not only handled without creating a panic, the economy actually embarked on the longest peacetime expansion in history.

In Senseless Panic: How Washington Failed America, William M. Isaac, Chairman of the Federal Deposit Insurance Corporation (FDIC) during the banking and S&L crises of the 1980s, details what was different about 2008’s meltdown that allowed the failure of a comparative handful of institutions to nearly shut down the world’s financial system. The book also tells the rousing story of Isaac’s time at the FDIC. With accessible and engaging prose, Isaac:

Senseless Panicis a provocative, quick-paced, and thoughtful analysis of what went wrong with the nation's banking system and a blunt indictment of United States policy.

More books from Wiley

Cover of the book Nik Software Captured by William M. Isaac
Cover of the book Sociology For Dummies by William M. Isaac
Cover of the book Fundamentals of Electronics 1 by William M. Isaac
Cover of the book Fundamentals of Inkjet Printing by William M. Isaac
Cover of the book Tax for Australians For Dummies by William M. Isaac
Cover of the book Mandolin Exercises For Dummies by William M. Isaac
Cover of the book Boundary Issues in Counseling by William M. Isaac
Cover of the book The Encyclopedia of Human Resource Management, Volume 3 by William M. Isaac
Cover of the book Wealth Creation by William M. Isaac
Cover of the book UK GAAP Financial Statement Disclosures Manual by William M. Isaac
Cover of the book Multicultural Issues in Counseling by William M. Isaac
Cover of the book Canon EOS Digital Rebel XTi / 400D For Dummies by William M. Isaac
Cover of the book Interpolation and Extrapolation Optimal Designs V1 by William M. Isaac
Cover of the book The Little Book that Saves Your Assets by William M. Isaac
Cover of the book Sex Cultures by William M. Isaac
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy