Unravelling the Credit Crunch

Offering fascinating insight into how the financial system works and how the credit crisis arose, this book provides a clearly written, comprehensive account of the current credit crunch that is easily understandable to non-specialists. It explains how the financial system was drawn into the crunch and the issues that need to be addressed to prevent further disasters. The author supplies detailed descriptions on numerous specialist areas, including credit derivatives, structured finance, and the monoline insurance companies. He also explores accounting and financial regulation and discusses the legacy of the Great Depression and other historical events.