Title
Slapped By The Invisible Hand: The Panic Of 2007 (Financial Management Association Survey And Synthesis)
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Originally Written For A Conference Of The Federal Reserve, Gary Gorton'S The Panic Of 2007 Garnered Enormous Attention And Is Considered By Many To Be The Most Convincing Take On The Recent Economic Meltdown. Now, In Slapped By The Invisible Hand, Gorton Builds Upon This Seminal Work, Explaining How The Securitizedbanking System, The Nexus Of Financial Markets And Instruments Unknown To Most People, Stands At The Heart Of The Financial Crisis.Gorton Shows That The Panic Of 2007 Was Not So Different From The Panics Of 1907 Or Of 1893, Except That, In 2007, Most People Had Never Heard Of The Markets That Were Involved, Didn'T Know How They Worked, Or What Their Purposes Were. Terms Like Subprime Mortgage, Assetbacked Commercial Paper Conduit, Structured Investment Vehicle, Credit Derivative, Securitization, Or Repo Market Were Meaningless. In This Superb Volume, Gorton Makes All Of This Crystal Clear. He Shows That The Securitized Banking System Is, In Fact, A Real Banking System, Allowing Institutional Investors And Firms To Make Enormous, Shortterm Deposits. But As Any Banking System, It Was Vulnerable To A Panic. Indeed The Events Starting In August 2007 Can Best Be Understood Not As A Retail Panic Involving Individuals, But As A Wholesale Panic Involving Institutions, Where Large Financial Firms Ran On Other Financial Firms, Making The System Insolvent.An Authority On Banking Panics, Gorton Is The Ideal Person To Explain The Financial Calamity Of 2007. Indeed, As The Crisis Unfolded, He Was Working Inside An Institution That Played A Central Role In The Collapse. Thus, This Book Presents The Unparalleled And Invaluable Perspective Of A Top Scholar Who Was Also A Key Insider.
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- Q: What is the page count of 'Slapped by the Invisible Hand'? A: This book has two hundred thirty-two pages. It's a concise exploration of the Panic of 2007 and its implications.
- Q: What is the binding type of this book? A: The binding type is hardcover. This provides durability and a professional appearance for your bookshelf.
- Q: Who is the author of 'Slapped by the Invisible Hand'? A: The author is Gary B. Gorton. He is a renowned expert on banking panics and financial crises.
- Q: What is the genre of this book? A: The genre is financial management and economics. It discusses the intricacies of banking systems and financial markets.
- Q: What are the dimensions of this book? A: The dimensions are six point four two inches in length, one inch in width, and nine point three inches in height. This size makes it easy to handle and read.
- Q: How do I read 'Slapped by the Invisible Hand'? A: You can read this book at your own pace. It provides insights into the financial crisis, making it suitable for both casual readers and professionals.
- Q: Is this book suitable for beginners in finance? A: Yes, the book is suitable for beginners. Gorton explains complex concepts in an accessible manner, making it easy to understand.
- Q: What age group is 'Slapped by the Invisible Hand' appropriate for? A: This book is appropriate for adults and young adults interested in economics and finance. It is not intended for children due to its complex themes.
- Q: How should I store this hardcover book? A: Store it upright on a bookshelf, away from direct sunlight and moisture. This will help preserve the book's condition and longevity.
- Q: Can I clean the book's cover? A: Yes, you can clean the cover with a soft, dry cloth. Avoid using water or cleaning solutions to prevent damage.
- Q: What if I receive a damaged copy of the book? A: If you receive a damaged copy, contact the seller for a return or exchange. Most sellers have a customer service policy for such issues.
- Q: Is there a warranty for this book? A: No, books typically do not come with warranties. However, you can inquire about return policies when purchasing.
- Q: How does this book compare to other financial books? A: This book stands out due to Gorton's insider perspective on the financial crisis. It combines academic rigor with real-world insights.
- Q: Is 'Slapped by the Invisible Hand' a good gift for finance professionals? A: Yes, it makes an excellent gift for finance professionals. The book offers valuable insights into banking systems and economic theories.
- Q: Can I recommend this book to someone new to economics? A: Yes, you can recommend it. The author explains concepts clearly, making it a good introduction to economic crises.