Восхождение денег

31 Glen O’Hara, From Dreams to Disillusionment: Economic and Social Planning in 1960s Britain (Basingstoke, 2007), ch. 5.

32 Bernanke, ‘Housing, Housing Finance, and Monetary Policy’. См. также: Roger Loewenstein, ‘Who Needs the Mortgage-Interest Deduction?’, New York Times Magazine, 5.3.2006.

33 Nigel Lawson, The View from No. it: Memoirs of a Tory Radical (London, 1992). P. 821.

34 Living in Britain: General Household Survey 2002 (London, 2003). P. 30: http://www.statistics.gov.uk/cci/nugget.asp?id=82i.

35 Ned Eichler, ‘Homebuilding in the 1980s: Crisis or Transition?’, Annals of the American Academy of Political and Social Science, 465 (January 1983). P. 37.

36 Maureen O’Hara, ‘Property Rights and the Financial Firm’, Journal of Law and Economics, 24 (October 1981). Pp. 317–332.

37 Eichler, ‘Homebuilding’. P. 40. См. также: Henry N. Pontell and Kitty Calavita, ‘White-Collar Crime in the Savings and Loan Scandal’, Annals of the American Academy of Political and Social Science, 525 (January 1993). P. 31–45; Marcia Millon Cornett and Hassan Teh-ranian, ‘An Examination of the Impact of the Garn-St Germain Depository Institutions Act of 1982 on Commercial Banks and Savings and Loans', Journal of Linance, 45,1 (March 1990). Pp. 95-111.

38 Henry N. Pontell and Kitty Calavita, ‘The Savings and Loan Industry’, Crime and Justice, 18 (1993). P. 211.

39 Ibid., p. 208.

40 F. Stevens Redburn, ‘The Deeper Structure of the Savings and Loan Disaster’, Political Science and Politics, 24, 3 (September 1991). P. 439.

41 Pontell and Calavita, ‘White-Collar Crime’. P. 37.

42 Allen Pusey, ‘Fast Money and Fraud’, New York Times, 23.4.1989.

43 K. Calavita, R. Tillman, and H. N. Pontell, ‘The Savings and Loan Debacle, Financial Crime and the State’, Annual Review of Sociology, 23 (1997). P. 23.

44 Pontell and Calavita, ‘Savings and Loans Industry’. P. 215.

45 Calavita, Tillman and Pontell, ‘Savings and Loan Debacle’. P. 24.

46 Allen Pusey and Christi Harlan, ‘Bankers Shared in Profits from I-30 Deals’, Dallas Morning News, 29.1.1986.

47 Allen Pusey and Christi Harlan, T-30 Real Estate Deals: A “Virtual Money Machine”, Dallas Morning News, 26.1.1986.

48 Pusey, ‘Fast Money and Fraud’.

49 Pontell and Calavita, ‘White-Collar Crime’. P. 43. См. также: Kitty Calavita and Henry N. Pontell, ‘The State and White-Collar Crime: Saving the Savings and Loans’, Law Society Review, 28, 2 (1994). Pp. 297–324.

50 Cначала были опасения, что потери окажутся больше. В 1990-м власти называли сумму вплоть до 500 миллиардов долларов. По другим оценкам речь шла о триллионе долларов и даже больше: Pontell and Calavita, ‘Savings and Loan Industry’. P. 203.

51 Весьма живописный рассказ об этом см.: Michael Lewis, Liar's Poker (London, 1989). Pp. 78-124.

52 Bernanke, ‘Housing, Housing Finance, and Monetary Policy’.

53 Значительную помощь в расчетах мне оказал Джозеф Бариллари. Morris A. Davisa, Andreas Lehnert and Robert F. Martin, ‘The Rent-Price Ratio for the Aggregate Stock of Owner-Occupied Housing’, Working paper (December 2007).

54 Shiller, ‘Recent Trends in House Prices’.

55 Carmen M. Reinhart and Kenneth S. Rogoff, ‘Is the 2007 Sub-Prime Financial Crisis So Different? An International Historical Comparison’, Draft Working Paper (14.1.2008).

56 Mark Whitehouse, ‘Debt Bomb: Inside the “Subprime” Mortgage Debacle’, Wall Street Journal, 30.5.2007. P. Ai.

57 Cm. Kimberly Blanton, ‘A “Smoking Gun” on Race, Subprime Loans’, Boston Globe, 16.3.2007.

58 ‘U.S. Housing Bust Fuels Blame Game’, Wall Street Journal, 19.3.2008. См. также: David Wessel, ‘Housing Bust Offers Insights’, Wall Street Journal, 10.4.2008.

59 Henry Louis Gates Jr., ‘Forty Acres and a Gap in Wealth’, New York Times, 18.11.2007.

60 Andy Meek, ‘Frayser Foreclosures Revealed’, Daily News, 21.9.2006.

61 http://www. responsiblelending. org/page.jsp? itemID =32 032 op.

62 Credit Suisse, ‘Foreclosure Trends – A Sobering Reality’, Fixed Income Research (23.4.2008).

63 Cm.: Prabha Natarajan, ‘Fannie, Freddie Could Hurt U.S. Credit’, Wall Street Journal, 15.4.2008.

64 Economic Report of the President 200/, tables В-77 и B-76: http:// www.gpoaccess.gov/eop/

65 George Magnus, ‘Managing Minsky’, UBS research paper, 27.3.2008.