Promotional Information

This meticulously documented work sets forth the major causes of the greatest asset bubble in world economic history—the American housing bubble, which began in 1940 and collapsed in 2007.

Table of Contents

List of Tables Foreword Preface Acknowledgments Introduction 1 Overview: An Allegory 2 Blind Faith 3 Greed 4 Regulation 5 Local Exclusionary Practices 6 Bubbles of the Past 7 Economic Education 8 Speculation 9 Psychology 10 Bankruptcy Laws 11 Banking Practices and Redlining 12 The Federal Reserve 13 Tax Policy 14 Real Estate Practices 15 Credit Rating Agencies 16 Appraisers 17 Accounting 18 Fallout: The Litigation Mess 19 Conclusions Glossary Selected Bibliography Appendix A: Securitization Appendix B: Itemized Deductions for Individuals and Corporations Appendix C: Home Mortgage Disclosure Act of 1975 Appendix D: Community Reinvestment Act of 1977 Appendix E: Housing and Community Development Act of 1992 Appendix F: Home Ownership and Equity Protection Act of 1994 Appendix G: Regulations Assigning Regulatory Authority to the Secretary of Housing Regarding Fannie Mae and Freddie Mac Appendix H: Performance Tests, Standards, and Ratings, in General Appendix I: Taxpayer Relief Act of 1997 Appendix J: American Recovery and Reinvestment Act of 2009 Notes Index

About the Author

Robert M. Hardaway is professor of law at the University of Denver Sturm College of Law, Denver.