The Crunch
How Greed and Incompetence Sparked the Credit Crisis

The Crunch: How Greed and Incompetence Sparked the Credit Crisis by Alex Brummer (Paperback) (ISBN: 9781847940094)

Presents a story of greed, mismanagement and dithering in which bankers seeking to make a quick buck, regulators engaged in turf wars and blame-avoidance, and governments paralysed by the sheer scale of the problem all conspired to bring the banking system almost to its knees.

It's also a story of victims: the millions of people in the US who have already been thrown out of their houses, the entire population of the UK who have been co-opted to guarantee Northern Rock with GBP30 billion of public money, borrowers everywhere who are now finding credit more expensive and harder to get. And, as Alex Brummer convincingly argues, now that recession looms, this is only the beginning.