Author : Timothy J. Sinclair
Release : 2021-11-15
Genre : Business & Economics
Kind :
Book Rating : 262/5 ( reviews)

GET EBOOK

To the Brink of Destruction - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook To the Brink of Destruction write by Timothy J. Sinclair. This book was released on 2021-11-15. To the Brink of Destruction available in PDF, EPUB and Kindle. To the Brink of Destruction exposes how America's rating agencies helped generate the global financial crisis of 2007 and beyond, surviving and thriving in the aftermath. Despite widespread scrutiny, rating agencies continued to operate on the same business model and wield extraordinary power, exerting extensive influence over public policy. Timothy J. Sinclair brings the shadowy corners of this story to life by examining congressional testimony, showing how the wheels of accountability turned—and ultimately failed—during the crisis. He asks how and why the agencies risked their lucrative franchise by aligning so closely with a process of financial innovation that came undone during the crisis. What he finds is that key institutions, including the agencies, changed from being judges to being advocates years before the crisis, eliminating a vital safety valve meant to hinder financial excess. Sinclair's well-researched investigation offers a clear, accessible explanation of structured finance and how it works. To the Brink of Destruction avoids tired accusations, instead providing novel insight into the role rating agencies played in the worst crisis of modern global capitalism.