Anatomy of a Financial Crisis: A Real Estate Bubble, Runaway Credit Markets, and Regulatory Failure

"Concise, authoritative, and devastating. Marc Jarsulic here delivers our first systematic view of the Great Crisis: from the sub-prime boom, via reckless securitization and regulatory negligence, to the system's collapse and its aftermath. Exceptionally well-organized, highly readable and full of facts, Anatomy of a Financial Crisis exposes twenty years of financial malpractice, incompetent public authority and the Nelson's eye of the economics profession." - James K. Galbraith, The University of Texas at Austin andauthor of "The Predator State: How Conservatives Abandoned the Free Market and Why Liberals Should Too"





"This lucid and dispassionate account is a must read for anyone who wants to understand exactly how the interaction of economics and politics brought our financial system to the brink of complete collapse in 2008-09. Jarsulic places the blame squarely on the shoulders of regulatorsand legislators, who allowed our banks to become so large that they could not fail without jeopardizing the world economy and so dangerous that they were essentially designed to fail (and be rescued, at great cost). He also proposes sensible solutions to this problem which, given Jarsulic's central position in current attempts to craft reform, allpowerful bankerswill noworganize to derail." - Simon Johnson, Professor, MIT Sloan, Senior Fellow, Peterson Institute, and co-author of "13 Bankers"





"An enormously important contribution.Marc Jarsulic's "Anatomy of a Financial Crisis "is clearly written, meticulously documented, and logically analyzed. It is indispensable for understanding the current crisis." - Martin H. Wolfson, University of Notre Dame