Thursday, July 7, 2011

New Book on Financial Crisis, Black Box Casino, To Be Released in September



Robert Stowe England's new book on the financial crisis -- Black Box Casino -- will be published in September by Praeger, an ABC-CLIO imprint.

The publication date has been moved up two months from the prior release date of November 30.

A press statement announcing the future debut of the book was released today by NA Associates, a New York public relations company. See statement at the end of the story.

NA Communications also released the reviews that will appear on the dust jacket of the book, which also follow below.

The book can be pre-ordered at Praeger at this link, and at Amazon.com at this link:

To request a review copy, write to Mr. England at rengland@us.net.


The dust-jacket cover reviews follow:


"Mr. England writes about the financial crisis with harrowing precision."

-- Daniel Henninger, Wall Street Journal


"First Reckless Endangerment and now it is Black Box Casino's turn to shine a bright light on the root causes of the mortgage meltdown. England, relying on decades of experience as a financial reporter and consummate research skills, documents how government housing policy, political expediency, and crony capitalism combined to cause the mortgage meltdown that nearly sank the world’s economy."

-- Ed Pinto, former chief risk officer of Fannie Mae


"Drawing upon sources not available to previous writers, England presents the most complete account yet of how the collapse of an obscure subprime mortgage lender in January 2007 could eventually take down some of the greatest names on Wall Street by September 2008, wreaking massive economic destruction that Americans are still struggling with today."

-- Kenneth Cline, managing editor, BAI Banking Strategies


The press release from NA Communications:


FOR IMMEDIATE RELEASE

THE AMERICAN PEOPLE WANT TO KNOW WHAT WENT WRONG IN THE FINANCIAL MELTDOWN OF 2008. NOW COMING SOON, BLACK BOX CASINO, THE BRILLIANT NEW BOOK HAS THE ANSWERS.

New York, New York, July 7, 2011: BLACK BOX CASINO: How Wall Street’s Risky Shadow Banking Crashed Global Finance by Robert Stowe England solves the puzzle of what led to the biggest financial crisis of modern times – and exposes the follies in Washington and on Wall Street that caused it.

To be published in September by Praeger, the book is already receiving raves from financial executives, regulators, politicians, Wall Street insiders, fraud litigators, risk analysts, media and many more.

BLACK BOX CASINO describes how Washington created incentives that drove half of all lending activity into the shadow banking system, where risks can be hidden in black boxes and markets manipulated for huge private gains at public expense. The book also tells how Washington generated a race to the bottom in mortgage lending standards, loading toxic assets on the books of financial institutions.

Mr. England is a veteran financial journalist and author who has covered the mortgage industry inside and out for over two decades as senior writer for Mortgage Banking magazine. He witnessed from a front row seat the reckless behavior that wrecked the global economy.

In this breakthrough exposé the author sorts through a mountain of evidence, interviews and information to give the American people and the world a compelling, fast-paced account of what went wrong, why, and who’s to blame. BLACK BOX CASINO is the book the world has been waiting for.

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Contact: Nancy Alloggiamento, nancyanyc@yahoo.com, 212/7551085

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