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The Rise and Fall of the Great Powers. Jeremy Heimans and Henry Timms. Looking for More Great Reads? Download our Spring Fiction Sampler Now. LitFlash The eBooks you want at the lowest prices. Read it Forward Read it first. In July , Adam Michaelson attended a high-level meeting at Countrywide Financial headquarters about a new loan product that would allow borrowers to pay less than their minimum monthly payment. The "finance jocks" believed that the booming housing market would only get bigger, supporting homeowners in a cycle of borrowing against their houses and refinancing later.
And when the bottom dropped out, Countrywide suffered the consequences-as did millions of Americans. With an insider's knowledge and thorough reporting on the impact on American families and the ripple effects on the economy, Michaelson examines the marketing of a mirage and the bad business decisions that destroyed a company, confronts the ethical questions that have arisen in the wake of the foreclosure crisis, and offers creative proposals to prevent such a meltdown from ever happening again.
I wanted to be known as a professional, a client now, no longer an agency flip-flops cliche. I always wore a tie.
The Foreclosure of America by Adam Michaelson | oxivecakyhub.ga
And many days, I would wear crisply starched shirts with French cuffs, and acccompanying cuff links to clink on the conference tables as I presented some critical marketing data. I wanted to be taken seriously, and during my New York training, I saw that dressing the part could make the difference. Adam speaks continually about his conferences, meetings, and lunches with important people within Countrywide. He writes endlessly trying to convince you that he has gathered valuable information about some top secret Countrywide information.
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I continued to read this book thinking I would run into some valuable information on the subprime mortgage crisis. There is little value in his book.
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Well, after all, what do you expect a marketing guy to talk about? In my opinion this book is about as interesting as a box of rocks. Adam Michaelson's "The Foreclosure of America" is a well-written, compelling chronicle describing Mr. Michaelson's transition from "ad agency man" to "corporate apparatchik to cynical dissenter at Countrywide during the housing bubble era. The strength of the book is Michaelson's narrative, which easily carries the reader through the pages.
Michaelson's role at Countrywide during his tenure at Countrywide was as senior vice president in the marketing department, the book focuses on marketing, and only discusses finance, securitization pipeline and risk operations tanagentially. Arguably it wasn't marketing that caused the financial meltdown; and while Mr.
Michaelson tells an interesting tale, it is not the tale of the mortgage crisis. See all 28 reviews.
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The Foreclosure of America
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