Fracking is making an increasing impact on the world, but most people are familiar with it from an environmental standpoint. <i>Saudi America</i>goes beyond that to examine the true story of fracking's impact – on Wall Street, the economy and on geopolitics. McLean tells the neglected story of the financial gambles that are the reasons for over-optimism and inflated promises. It's a bit like the return to the Enron story: over eagerness in partaking in a boom leads to all...
In a way, the situation is ironic: housing was at the root of the financial crisis, and six years after the meltdown, housing finance is still the greatest unsolved issue. The U.S. housing market is roughly $10 trillion, making it one of the largest segments of the bond market. Roughly 70 percent of the American population has a mortgage, and for most people, the mortgage is the most important financial instrument in their lives. But until the financial crisis, few people knew the essential role...
