Geisst looks at the policy implications of the credit crisis anddescribes how the United States can get its fiscal house inorder:
- Debt must be brought back onto the issuer's balance sheet.
- Investors must have the assurance of recourse to the debtissuer's own funds, rather than the empty promise of a valuelessdocument.
- Regulators must be educated to know at least as much aboutfinancial engineering as the structured finance instruments'architects do.
This book connects the dots from consumer spending to creditcards to home-equity loans and back to credit cards.