The Monster

How a Gang of Predatory Lenders and Wall Street Bankers Fleeced America--and Spawned a Global Crisis

Business & Finance, Finance & Investing, Real Estate, Business Reference, Corporate History, Finance
Cover of the book The Monster by Michael W. Hudson, Henry Holt and Co.
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Michael W. Hudson ISBN: 9781429940047
Publisher: Henry Holt and Co. Publication: October 26, 2010
Imprint: Times Books Language: English
Author: Michael W. Hudson
ISBN: 9781429940047
Publisher: Henry Holt and Co.
Publication: October 26, 2010
Imprint: Times Books
Language: English

Who killed the economy?

A page-turning, true-crime exposé of the subprime salesmen and Wall Street alchemists who produced the biggest financial scandal in American history

"It's hard to have a guilty conscience if you don't have a conscience. Anything that benefited production - that benefited me and benefited my wallet - I'd do it."

The sales force at Ameriquest Mortgage took this philosophy to heart. They watched the Hollywood white-collar-crime flick "Boiler Room" as a training tape, studying how to pitch overpriced deals to unsuspecting home owners. They learned how to forge signatures on mortgage paperwork and create fake documents in "cut-and-paste" operations they dubbed "The Lab" or "The Art Department."

In this stunning narrative, award-winning reporter Michael W. Hudson reveals the story of the rise and fall of the subprime mortgage business by chronicling the rise and fall of two corporate empires: Ameriquest and Lehman Brothers. As the biggest subprime lender and Wall Street's biggest patron of subprime, Ameriquest and Lehman did more than any other institutions to create the feeding frenzy that emboldened mortgage pros to flood the nation with high-risk, high-profit home loans.

It's a tale populated by a remarkable cast of the characters: a shadowy billionaire who created the subprime industry out of the ashes of the 1980s S&L scandal; Wall Street executives with an insatiable desire for product; struggling home owners ensnared in the most ingenious of traps; lawyers and investigators who tried to expose the fraud; politicians and bureaucrats who turned a blind eye; and, most of all, the drug-snorting, high-living salesmen who tell all about the money they made, the lies they told, the deals they closed.

Provocative and gripping, The Monster is a searing exposé of the bottom-feeding fraud and top-down greed that fueled the financial collapse.

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

Who killed the economy?

A page-turning, true-crime exposé of the subprime salesmen and Wall Street alchemists who produced the biggest financial scandal in American history

"It's hard to have a guilty conscience if you don't have a conscience. Anything that benefited production - that benefited me and benefited my wallet - I'd do it."

The sales force at Ameriquest Mortgage took this philosophy to heart. They watched the Hollywood white-collar-crime flick "Boiler Room" as a training tape, studying how to pitch overpriced deals to unsuspecting home owners. They learned how to forge signatures on mortgage paperwork and create fake documents in "cut-and-paste" operations they dubbed "The Lab" or "The Art Department."

In this stunning narrative, award-winning reporter Michael W. Hudson reveals the story of the rise and fall of the subprime mortgage business by chronicling the rise and fall of two corporate empires: Ameriquest and Lehman Brothers. As the biggest subprime lender and Wall Street's biggest patron of subprime, Ameriquest and Lehman did more than any other institutions to create the feeding frenzy that emboldened mortgage pros to flood the nation with high-risk, high-profit home loans.

It's a tale populated by a remarkable cast of the characters: a shadowy billionaire who created the subprime industry out of the ashes of the 1980s S&L scandal; Wall Street executives with an insatiable desire for product; struggling home owners ensnared in the most ingenious of traps; lawyers and investigators who tried to expose the fraud; politicians and bureaucrats who turned a blind eye; and, most of all, the drug-snorting, high-living salesmen who tell all about the money they made, the lies they told, the deals they closed.

Provocative and gripping, The Monster is a searing exposé of the bottom-feeding fraud and top-down greed that fueled the financial collapse.

More books from Henry Holt and Co.

Cover of the book The Secret of Zoom by Michael W. Hudson
Cover of the book Housebroken by Michael W. Hudson
Cover of the book Orangutanka by Michael W. Hudson
Cover of the book Doing It by Michael W. Hudson
Cover of the book Fifty Easy Old-Fashioned Flowers by Michael W. Hudson
Cover of the book Super Summer by Michael W. Hudson
Cover of the book Newton's Clock by Michael W. Hudson
Cover of the book The Pope of Physics by Michael W. Hudson
Cover of the book In the Company of Soldiers by Michael W. Hudson
Cover of the book Now by Michael W. Hudson
Cover of the book The Milk-Free Kitchen by Michael W. Hudson
Cover of the book Vivaldi and the Invisible Orchestra by Michael W. Hudson
Cover of the book Cities of the Red Night by Michael W. Hudson
Cover of the book Hedgehugs and the Hattiepillar by Michael W. Hudson
Cover of the book The Food Parade by Michael W. Hudson
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