Gambling with other peoples money : how perverse incentives caused the financial crisis

Acknowledgements -- Preface to the 2019 edition -- Introduction -- Gambling with other people's money -- Did creditors expect to get rescued? -- What about equity holders? -- Heads : they win a ridiculously enormous amount : tails : they win just an enormous amount -- How creditor rescue and housing policy combined with regulation to blow up the housing market -- Fannie and Freddie -- Fannie and Freddie : cause or effect? -- Commercial banks and investment banks -- Picking up nickels -- Basel : faulty -- Where do we go from here? -- Notes -- Index -- About the author