Financial alchemy in crisis : the great liquidity illusion

The Resource Financial alchemy in crisis : the great liquidity illusion

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Financial alchemy in crisis : the great liquidity illusion

Title remainder

the great liquidity illusion

Statement of responsibility

Anastasia Nesvetailova

Language

eng

Summary

Annotation

Cataloging source

N$T

Illustrations

illustrations

Index

index present

Literary form

non fiction

Nature of contents

dictionaries
bibliography

Summary expansion

<div><div><div>In July 2007, the combination of a seemingly unstoppable rise in house prices and bullish banks swimming in liquidity meant that almost anyone could get a mortgage in the UK or US. Little more than a month later the supply of credit dried up practically overnight, leaving the world wondering how bank liquidity could suddenly vanish. In<i>Financial Alchemy in Crisis</i>, Anastasia Nesvetailova shows that this liquidity never actually existed. The rise of sophisticated financial instruments created what appeared to be an abundance of liquid funds but was in fact a credit pyramid. As soon as house prices stopped rising the reality was exposed. Nesvetailova's bold and radical analysis explains why the credit crisis was an inevitable consequence of entrusting the world economy to financiers who believe that they can 'create' money and wealth.</div></div></div>

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Context of Financial alchemy in crisis : the great liquidity illusion

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