In this book, Padma Desai makes the complexities of economic
policy and financial reform accessible to a wide audience. Merging
a compelling narrative with scholarly research, she begins with a
systematic breakdown of the factors leading to America's recent
recession, describing the monetary policy, tax practices, subprime
mortgage scandals, and lax regulation that contributed to the
crisis. She also discusses the Treasury-Fed rescue deals that saved
several financial institutions and the involvement of Congress in
passing restorative policies.
Desai follows with an analysis of stress tests and other
economic measures, and she frankly assesses whether the U.S.
economy is truly on the mend. Expanding her view, she considers the
prospects for recovery in North America as a whole, as well as in
Europe, Asia, and South America, and the extent and value of U.S.
and E.U. regulatory proposals. Refocusing on American financial
practices, Desai evaluates hedge funds and derivatives, credit
default swaps, and rating agencies, pondering whether the dollar
can remain a reserve currency. She concludes with a historical
comparison of the Great Depression and the Great Recession,
weighing the effect of the economic collapse on the future of
Subjects: Business, Economics
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