Other People’s Houses provides the clearest explanation yet of how the Financial Crisis of 2008 developed and why it could happen again.

"A must-read for anyone seeking to understand the causes of the last financial crisis and why we may very well be heading towards another."

Neil Barofsky
Former Special Inspector General for the Troubled Asset Relief Program and author of Bailout: An Inside Account of How Washington Abandoned Main Street While Rescuing Wall Street

"By unearthing the personal stories of homeowners, bankers, and regulators, Jennifer Taub shows that our recent financial crisis was no accident"

James Kwak
University of Connecticut School of Law, co-founder of the Baseline Scenario blog, and coauthor of 13 Bankers: The Wall Street Takeover and the Next Financial Meltdown and White House Burning: Our National Debt and Why it Matters to You.

"This is first-rate financial history."

Marty Fridson
CEO, FridsonVision LLC

"Taub exposes three decades of predatory lenders, greedy investors, and lax regulators, with a much-needed focus on the dire consequences of preventing bankruptcy judges from restructuring mortgage debt."

Julia Gordon
Dir. of Housing Policy, Center for American Progress

"A page-turner that reads like a Michael Lewis financial thriller, this bracing account of the roots of financial crises debunks stubborn myths with insight that would make Louis Brandeis proud."

Lawrence A. Cunningham
George Washington University, editor of The Essays of Warren Buffett: Lessons for Corporate America

"Taub argues persuasively how the seeds for the 2008 financial crisis were sown back in the 1980s as deregulation paved the way for the S&L debacle. But that was only an appetiser for even greater calamity later."

Mark Tran
The Guardian

"Meticulously argued and guaranteed to raise the blood pressure of the average American taxpayer."

Kirkus Reviews

"Over the years I’ve read a tall stack of books about the financial crisis. Other People’s Houses, by Vermont Law School professor Jennifer Taub, provides the clearest, beginning-to-end explanation I’ve seen of what went wrong."

Pat Regnier
Money Magazine

"Provides a concise, clear, and compelling account."

Glenn C. Altschuler
Huffington Post

"Taub's cogently written, accusatory work will interest a wide readership."

Library Journal

"Highly recommended. . .Taub does an excellent job retelling and reframing a reasonably well-known story to make it fresh and interesting, and makes a strong case tying the 2008 crisis to the 1980s deregulation."

Adam Levitin
Professor of Law, Georgetown University Law Center

"Brilliant account of the housing crisis and its lingering impact."

Frank A. Pasquale III
Professor of Law, University of Maryland, Francis King Carey School of Law

"A compelling narrative that keeps the reader's attention from cover to cover . . .It is a must read for anyone interested in understanding and reforming our broken financial system."

Timothy Canova
Professor of Law and Public Finance, Nova Southeastern University, Shepard Broad Law Center

Jennifer Taub

Jennifer Taub

Jennifer Taub is the author of Other People’s Houses: How Decades of Bailouts, Captive Regulators and Toxic Bankers Made Home Mortgages a Thrilling Business. Formerly an Associate General Counsel at Fidelity Investments, she is a leading expert on the Financial Crisis of 2008, and is a frequent commentator on corporate governance and financial reform matters. Taub is a graduate of Harvard Law School and Yale College and an associate professor at Vermont Law School, where she teaches Contracts, Corporations, Securities Regulation, and White Collar Crime. She resides in Northampton, Massachusetts.

safe banking

a blog on banking, corporate governance, and financial market reform.

July 5, 2018

Big Banks, Big Risks –– Here We Go Again?

I recommend listening to this wonderfully informative interview with Professor Michael Greenberger. Greenberger is the former director of trading and markets at the Commodity Futures Trading Commission.When speaking with NPR, Greenberger reflects on his new working paper entitled “Too Big to Fail U.S. Banks’ Regulatory Alchemy.” The rather wonky, yet informative subtitle is:  “Converting an Obscure Agency Footnote into an ‘At Will’ Nullification of Dodd-Frank’s Regulation of the MultiTrillion Dollar Financial Swaps Market.”

In mid June, I was fortunate to attend the INET breakfast where this paper was released. During the discussion, former Fed Chair Paul Volcker remarked, ““I’m 90.” After 70 years in and out of banking “What strikes me. I’ve seen it all before.”

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Link to the NPR interview here

Link to Greenberger’s working paper here


GOP Rep. Collins arrested on insider trading charge

@JenTaub