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Chain of Blame: How Wall Street Caused the Mortgage and Credit Crisis - Paul Muolo

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Genre: Finance / Business / Career / Author: Paul Muolo, Mathew Padilla / Edition: Exp Upd / Paperback / 380 Pages / Book is published 2010-02-19 by John Wiley & Sons

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      12.01.2012 17:27
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      Not recommended as a pleasure read, more a study.

      I bought this book from Amazon back in August for about £8.99 and was looking forward to reading it. I am not a fiction reader and like to get into books that educate me or extend my knowledge. I certainly was intrigued to find out how Wall Street had a part to play in the Credit Crisis.

      So when the book arrived, I couldn't wait to start reading. In total there are about 363 pages. No small read, and is split into 13 chapters. The Authors are American based and as you would expect the banks discussed mainly American ones.

      As the companies were not well known to me I had a real problem trying to follow the story and names. To compound the problem there were way too many figures discussed. I'm quite used to reading business books and economics (and actually have a degree in the subject) but this went straight over my head, and was so hard to digest.

      At chapter 5, I started reading the book again. My thoughts were that I could probably get into it a bit easier. Sadly not so. On my third time of trying I started to understand the sub prime sector in America a bit more, and how they packaged high risk mortgages with low risk ones, and sold them on as a package, and then on again - but I already knew that anyway. The language was very risque at times with F this and F that, but I guess a teenager isn't likely to be raeding it anyway.

      So I'm sorry I can't tell you more about the final chapters but sadly for the first time I can remember, I gave up reading it. Maybe if you wanted to study the book, or were American, you would find it more useful. But as a night time read - forget it.

      copyright stebiz2012 - also on ciao.co.uk


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