Listen free for 30 days

Shaky Ground

The Strange Saga of the U.S. Mortgage Giants
Narrated by: Gabra Zackman
Length: 3 hrs and 33 mins
Categories: Non-fiction, Economics
4 out of 5 stars (4 ratings)

£7.99/month after 30 days. Cancel anytime

Summary

Fannie Mae and Freddie Mac were created by Congress to serve the American dream of homeownership. By the end of the century, they had become extremely profitable and powerful companies, instrumental in putting millions of Americans in their homes.

So why does the government now want them dead?

In 2008 the US Treasury put Fannie and Freddie into a life-support state known as "conservatorship" to prevent their failure - and worldwide economic chaos. The two companies, which were always controversial, have become a battleground. Today, Fannie and Freddie are profitable again but still in conservatorship. Their profits are being redirected toward reducing the federal deficit, which leaves them with no buffer should they suffer losses again. China and Japan are big owners of Fannie and Freddie securities, and they want to ensure the safety of their investments - which helps explain why the government is at an impasse about what to do. But the current state of limbo is unsustainable.

Based on comprehensive reporting and dozens of interviews, Shaky Ground chronicles the story of Fannie and Freddie seven years after the meltdown and tells us why homeownership finance is now one of the biggest unsolved issues in today's global economy.

Cover design by Strick&Williams

©2015 Bethany McLean (P)2015 Audible, Inc.

What members say

Average customer ratings

Overall

  • 4 out of 5 stars
  • 5 Stars
    1
  • 4 Stars
    3
  • 3 Stars
    0
  • 2 Stars
    0
  • 1 Stars
    0

Performance

  • 4 out of 5 stars
  • 5 Stars
    1
  • 4 Stars
    0
  • 3 Stars
    1
  • 2 Stars
    0
  • 1 Stars
    0

Story

  • 4.5 out of 5 stars
  • 5 Stars
    1
  • 4 Stars
    1
  • 3 Stars
    0
  • 2 Stars
    0
  • 1 Stars
    0

Reviews - Please select the tabs below to change the source of reviews.

No Reviews are Available
Sort by:
  • Overall
    4 out of 5 stars
  • Performance
    3 out of 5 stars
  • Story
    4 out of 5 stars
Profile Image for Treasur2
  • Treasur2
  • 02-09-19

hmm. I agree. change but gradually.

good but not has good as your first two. still helped me understand a great deal I did not know. thank you.

  • Overall
    5 out of 5 stars
  • Performance
    5 out of 5 stars
  • Story
    5 out of 5 stars
Profile Image for Kindle Customer
  • Kindle Customer
  • 18-08-18

Bethany McLean is Queen

The best financial writer of our-time —- everything she touches is awesome. Can’t wait for the next one...

  • Overall
    4 out of 5 stars
  • Performance
    4 out of 5 stars
  • Story
    5 out of 5 stars
Profile Image for Jose
  • Jose
  • 15-10-15

Details on the Culture and History of the GSEs

The female narrator is very good, the narrator speaks in a voice similar to the actual Bethany McLean. Why cant we get more female narrators?

The content is sharp and new. I have read many books on the financial crisis, but nothing with this much detail on the GSEs.

Guess what, there is a crime story here. The government took 80% of the equity but is acting like the government took 100% of the equity.This will likely head to the supreme court and will be a significant trial. Ichan, Ackman, and Fariholme versus the Government. We shall see.

  • Overall
    5 out of 5 stars
  • Performance
    5 out of 5 stars
  • Story
    5 out of 5 stars
Profile Image for Ken
  • Ken
  • 15-09-15

Most educational book of the year!

Very informative & educational on Fanniegate! Thank you Bethany for writing a book on a such a complex subject.

0 of 1 people found this review helpful