03 Oct Discussion – Dr. Susan Wharton Gates Book “Days of Slaughter”
Dr. Susan Wharton Gates will be on campus to discuss her book “Days Of Slaughter” Wednesday, October 11th at the BI Auditorium – Steger Hall – 1015 Life Science Circle from 5-6 PM. Reception following.
Telecast by CSPAN – In September 2008, beset by mounting losses on high-risk mortgages and mortgage securities, the Federal Home Mortgage Corporation teetered on the brink of insolvency. Fearing that confidence in the housing market would collapse completely if Freddie Mac & Fannie Mae failed, the US government made the difficult decision to place the two firms in conservatorship, taking control away from shareholders. Although the taxpayer commitment of hundreds of billions of dollars was meant to stabilize the housing finance system, Freddie’s fall at the start of the financial crisis set off shockwaves around the world.
Days Of Slaughter is the premier book to tell the story of Freddie Mac from an insider perspective—while casting a prophetic eye to the future — and offering a first hand account of housing policies, complex financial transactions, and the crazy quilt of federal and state actors involved in the Great Recession. Gates lays out a cautionary tale of failed policies and corporate mismanagement that compellingly addresses previously unexplored issues of political ideology, organizational dynamics, and ethics, and explains why it could happen again.