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Chapter Overview
Chapter 1: AudiobookHub Recommendation
Chapter 2: Cheap loans emerged as a crisis fault line, with both banks and politicians deeply complicit in the scheme.
Chapter 3: Exporting nations pushed their surpluses toward the U.S., but America could only absorb so much at the time.
Chapter 4: Low interest rates sparked a surge in cheap mortgages, overheating the U.S. housing market.
Chapter 5: Subprime mortgages met short-term needs of politicians and borrowers, but inflicted tremendous damage.
Chapter 6: Financial models rely on past behavior to forecast the future. Yet this time, we lacked any data.
Chapter 7: Rating agencies misjudged the risks of subprime mortgages, declaring them to be a safe investment.
Chapter 8: Financial incentives drove every party to take whatever they could, without raising any red flags.
Chapter 9: Irresponsible risk-taking must be curbed in finance to promote long-term stability across the system.
Chapter 10: Better education, more reliable safety nets: Sustainable growth needs long-term solutions.
Description
In Fault Lines, author Raghuram Rajan unveils the global economy’s hidden fractures that led to the 2008 financial crisis. These blinks show that greedy bankers weren’t the only ones to blame; our economic system had deep systemic flaws as well. Importantly, they outline what we can do as a society to prevent similar crises in the future.
Who Should Listen
- Anyone who wants to understand the financial crisis of 2008
- Anyone curious how future economic crises could be prevented
- Anyone interested in global economics or international trade