Wall St. Panic of 2008 by William Thayer at Bookstore UAE
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Wall St. Panic of 2008

Wall St. Panic of 2008


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About the Book

This book describes how a Bad Input to a flawed Wall St. System caused the Panic of 2008. The Bad Input was Subprime Mortgages. The Wall St. System was flawed due to: (1) Balance Sheet Abuse, (2) Derivatives and (3) CDS.
About the Author: Mr. Thayer has a varied business background that has allowed him to understand the key elements that caused the Wall St. Panic of 2008. He has an MBA and has worked as a Financial Analyst for the Hughes Space & Communications. He worked as a stock broker holding an NASD 7 & 63 licenses. He is a retired Certified Finanical Planner, and worked 14 years in that field. He also worked as a Real Estate Agent for a decade so he is familiar with mortgages and can analyse Subprime Mortgages. Most authors writing about the Wall St. Panic of 2008 concentrate on "what happened" vs. analyzing "why it happened". Mr. Thayer's background in Mathematics and Engineering give him a different perspective. He has a BS in Math from Stanford and MS in Aerospace Engineering from USC. He worked as an analytical engineer for approximately 30 years. Whereas many authors on the Panic tend to gloss over the extreme leverage of Bear Stearns and Lehman Brothers, Mr. Thayer focuses on that as one of the prime causes of the Panic. Also, the $600 Trillion Derivative market and Opaque Derivatives get some engineering analysis. Since Mr. Thayer was also licensed to sell Life, Health, Property and Casualty Insurance products, the infamous Credit Default Swap insurance issued by AIG is examined. As an engineer, Mr. Thayer worked in aircraft accident investigations. Essentially, this is failure analysis, and Mr. Thayer illustrates why the Federal Reserve should have done similar failure analysis when Bear Stearns failed in 2008. As a Private Pilot, Mr. Thayer is used to evaluating a problem situation with the available data and not being paralyzed because complete data is not available. Mr. Thayer's business, math and analytical background brings a fresh approach to analyzing the causes of the Wall St. Panic of 2008.


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Product Details
  • ISBN-13: 9781453659540
  • Publisher: Createspace Independent Publishing Platform
  • Publisher Imprint: Createspace Independent Publishing Platform
  • Height: 216 mm
  • No of Pages: 166
  • Series Title: English
  • Sub Title: If you lost money, here's why
  • Width: 140 mm
  • ISBN-10: 1453659544
  • Publisher Date: 25 Jun 2010
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Spine Width: 9 mm
  • Weight: 249 gr


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