How I Caused the Credit Crunch

(Paperback)

Publishing Details

Classifications

Physical Properties

Description

A vivid and personal account of 21st century banking excess. "How I Caused the Credit Crunch" traces seven years at the forefront of the credit markets - a tale from the heart of the bewildering banking maelstrom whose catastrophic collapse has plunged the world towards the worst recession since the 1930s. Tetsuya Ishikawa's story reveals how a young Oxford graduate finds himself in command of vast sums of other people's money; how a novice to the mysteries of hedge funds, subprime mortgages and CDOs can fix complex deals for billions of dollars in the exclusive bars, brothels and trading floors of London, New York, Frankfurt and Tokyo, and reap the benefits in a colossal annual bonus and an international luxury lifestyle. Ishikawa's book, which deftly explains the arcane financial instruments now grimly associated with the credit crunch, is both a powerful tale of lost innocence and an expose of the disturbing truth of the collective folly, frailty and greed at the heart of the banking crisis.

Reviews

Anticipate brisk sales - this book succeeds as a lesson on the credit mess. -- Bloomberg
How I Caused the Credit Crunch is worth reading. -- Sathnam Sanghera, Times
Sets a high standard for others to follow. -- Creditflux
If you liked Liars Poker, Michael Lewis seminal book on the financial excesses of the 1980s, then this book is for you. -- Uk Analyst
Taking the bestseller lists by storm. Ishikawas book is a vital reminder that financial markets are not the workings of cold mechanical forces, but of warm flesh and blood. -- Transforming Business
Told in a riveting manner. The narrative promises to grip the reader. -- Daksesh Parikh, Business India

Author Bio

Tetsuya Ishikawa, Japanese by birth, grew up in London and attended Eton College before reading Philosophy, Politics and Economics at Oxford University. Throughout his banking career, which included Goldman Sachs, Morgan Stanley and ABN AMRO, he structured, syndicated and sold Credit Derivative, CDO and Securitisation (including subprime) products to investors globally. He was made redundant by Morgan Stanley in May 2008. He currently lives in London with his wife and children.