WHAT REALLY HAPPENED:
THE FINANCIAL CRISIS GUIDE

Table of Contents

Preface

Part 1 – The evolution of the crisis

Introduction
The role of human behavior
The role of government
The role of capitalism and markets
Risk and reward
Market efficiency
Company valuation
Mark to market
Risk management
Hedging and derivatives
Cultural shift
Financial engineering and structured finance
The failure of regulation
The current crisis
Credit-default swaps
The U.S. Government response – 1
The oil price bubble
The U.S. Government response – 2

Part 2 – Preventing future crises

Introduction
Greed checks and balances
Corporate subversion of democracy
The ethical flaw of capitalism
The role of the Board of Directors
The end of speculation
Capital requirements and leverage
Regulatory changes
Oil market regulation
Conclusion