Quantum Crisis II-The Great Financial & Credit Crisis,2007-2009.

A CHRONOLOGICALLY ILLUSTRATIVE GUIDE TO THE GLOBAL FINANCIAL CRISIS----- starting from financial mishaps in 2007 and culminating in massive worldwide recession through 2009. The global financial and credit crisis of 2007-2009 is like no other in the history of Mankind. This crisis was sudden and unprecedented in the scale of its appearance and impact on humans all across this planet. It fundamentally changed the nature of all financial relationships. A crisis of this magnitude and impact calls for a special and wide understanding of its causes, results and future implications. Development of this understanding constitutes the primary objective of this publication. Slowly but surely the US real estate/mortgage crisis escalated into a US banking crisis, which then metamorphosed into a more dangerous international banking and credit crisis. The crisis spread its wings universally. This worldwide financial impact reinforces the fact that the world financial network is truly interconnected in every way. When America sneezes, Europe catches a cold while Asia inherits a transmitted flu. The main culprits behind this crisis were the large investment and commercial banks in the US, who spread risk across the world through sale of specialized, synthetic financial products. Using a process called "financial securitization" -----risks of different qualities got wrapped up and sold as investment products globally. When Americans started defaulting on their mortgages, these toxic investments lost value and brought the entire money and banking system to its knees. This book attempts to navigate through some very complex financial territory and provides a 360 degree view of the crisis---- attempting to propose some novel and radical ways of solving the problems inherent in this crisis. This book is a must read for all individuals wanting an honest and unbiased view of the global financial and credit crisis. The author prays that the new found understanding acquired through this book results in the reader saving, protecting and growing his "financial nest egg" more vigorously.
About the Author: The author has spent most of his working years in the field of finance, marketing and business. Here are some of his significant educational and career achievements: G.C.E. University of Cambridge, United Kingdom, with Distinction in English and English Literature. B.Sc. degree with Honors. M.B.A., Summa Cum Laude Graduate, University of Dayton, Ohio, USA Provisional Member, Million Dollar Round Table, USA Uni-Lever Gold Medalist, Graduate Marketing Program. Silver Medal, Best All Round Student, Business School. First in MBA Program G.P.A. =4.0 Public Speaking Silver Trophy, Indo-American Society National Quality Award Recipient. 20 plus years experience as Financial Adviser in N.America Certified Instructor, Larry Wilson Counselor Selling Program.