6/22/2023 0 Comments Crashed by Adam Tooze![]() While many writers, especially on the right, have pegged the financial meltdown on the subprime mortgage crisis, agencies such as Freddie Mac and Fannie Mae in fact kept loans to high standards, and that aspect of the larger financial crisis proved more symptom than cause. As the author notes, deregulation was central to the British plan to convert London into ground zero for “many of the most fast-paced global transactions” that were remaking the world. One driver was the deregulation of financial institutions, which was not confined to the United States. The Deluge: The Great War, America and the Remaking of the Global Order, 1916-1931, 2014, etc.), whose previous book won the Los Angeles Times Book Prize, examines the “first crisis of a global age” as it played out in an increasingly interlocked financial world. ![]() ![]() A long but not oppressive study blending politics, economics, and history. What happens when the walls of Wall Street come crashing down? Donald Trump, for one thing. ![]()
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