The Monster by Michael W Hudson
Lie, swindle, steal. It's another day at work for the sales professionals of the mortgage industry. Amid the wreckage of the S&L scandal, a group of maverick entrepreneurs hatch a new money-making scheme: writing 'subprime' loans at exorbitant prices and bundling them into securities for eager Wall Street banks. In this stunning narrative, award-winning reporter Michael W. Hudson brings us inside the boiler rooms and banks that flooded the nation with high-risk, high-profit mortgages. At Ameriquest Mortgage, the nation's largest subprime lender, salesmen sniff out homeowners vulnerable to refinancing pitches, and use Wite-Out to doctor documents. At rival FAMCO, employees memorize 'The Monster', a high-pressure sales tactic crafted to obscure interest rates - and so unscrupulous that one loan officer calls his state attorney general. With support from Washington bureaucrats and Wall Street, subprime grows into a $1.5 trillion behemoth - devastating the lives of millions of homeowners and wounding the U.S. economy. Provocative and gripping, "The Moster" is a searing tale of a sales culture gone out of control and the bottom-feeding fraud and topdown greed that fuelled the financial collapse.| SKU | Unavailable |
| ISBN 13 | 9780805090468 |
| ISBN 10 | 0805090460 |
| Title | The Monster |
| Author | Michael W Hudson |
| Condition | Unavailable |
| Binding Type | Hardback |
| Publisher | Times Books |
| Year published | 2010-10-26 |
| Number of pages | 384 |
| Cover note | Book picture is for illustrative purposes only, actual binding, cover or edition may vary. |
| Note | Unavailable |