The Financial Crisis of 2008

A History of US Financial Markets 2000–2012

Barrie A. Wigmore

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Hardback

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English

Cambridge University Press
04 November 2021

Monetary economics; Financial crises & disasters; Finance

Series: Studies in Macroeconomic History

Supported by ten years of research, Wigmore has gathered extensive data covering the 2008 financial crisis and subsequent recovery to provide the first comprehensive history of the period. Financial crises cannot occur unless institutional investors finance the bubbles that created them. Wigmore follows the trail of data putting pressure on institutional investors to achieve higher levels of returns that led to over-leverage throughout the financial system and placed such a burden on recovery. Here is a 'very good picture - and painful reminder - of the crisis' evolution across multiple asset classes, structures, participants, and geographies.' This work serves as a critical analysis of modern portfolio management and an important reference work for financial professionals, academics, investors, and students.

By: Barrie A. Wigmore
Imprint: Cambridge University Press
Country of Publication: United Kingdom
Edition: New edition
Dimensions: Height: 235mm, Width: 158mm, Spine: 24mm
Weight: 800g
ISBN: 9781108837637
ISBN 10: 1108837638
Series: Studies in Macroeconomic History
Pages: 450
Publication Date: 04 November 2021
Audience: Professional and scholarly , Undergraduate
Format: Hardback
Publisher's Status: Active

Barrie A. Wigmore led Goldman Sachs' corporate finance department serving electric and gas utilities, natural gas pipelines, and telephone companies around the world. He is a trustee of the Metropolitan Museum of Art, a member of the Investment Committee for its $3.5 billion endowment, and Chairman of the Worcester College Oxford Endowment Trust. He is the author of The Crash and Its Aftermath: Securities Markets in the United States 1929–1933 (1986), Securities Markets in the 1980s (1995), and a novel, Morgenthal & Co. The Story of an Important Investment Bank 1972–2010 (2013).

Reviews for The Financial Crisis of 2008: A History of US Financial Markets 2000–2012

'Amazing data. Cogent. This book shines bright new light on many puzzles and controversies, dispenses with some conventional errors, and offers insights for new thinking.' Andrei Shleifer, Harvard University 'Of the many books on the financial crisis this has an excellent chronology and unique fact pattern. It develops the main themes and causes and supports them with excellent analysis, capturing the period I worked through in a surprisingly readable manner. It is a must read for those in the financial business.' Colm Kelleher, Former CFO and President of Morgan Stanley 'The Financial Crisis of 2008 is essential reading for banking, investment, and insurance firm leadership but also for investors, analysts, economists, and students of financial and investment history. It depicts how widespread risk-taking at the firm level can morph into systemwide near collapse and how the mantra of homeownership for all must be considered in light of the associated financial risks and undisciplined creation of asset-backed securities. The book is required reading for a generation.' Janet J. Mangano, Enterprising Investor