V. Как за каменной стеной

Philip Е. Orbanes, Monopoly: The World's Most Famous Game-And How It Got That Way (New York, 2006). Pp. 10-71.

Ibid., р. 50. 26

Ibid., р. 86.

Ibid., р. 90. 27

Robert J. Shi Мег, 'Understanding Recent Trends in House Prices and 28 Home Ownership', paper presented at Federal Reserve Bank of Kansas 29 City's Jackson Hole Conference (August 2007). 30

http://www.canongate.net/WhoOwnsBritain/DoThe MathsOn Land Ownership. 31

David Cannadine, Aspects of Aristocracy: Grandeur and Decline in Modem Britain (New Haven, 1994). P. 170. 32

Я благодарен Грегори Кларку за предоставленную статистику. Frederick В. Heath, The Grenvilles, in the Nineteenth Century: The Emergence of Commercial Affiliations', Huntington Library Quarterly, 33 25,1 (November 1961). P. 29.

Heath, 'Grenvilles'. P. 32. 34

Ibid., p. 35.

David.Spring and Eileen Spring, 'The Fall of the Grenvilles', Huntington 35 Library Quarterly, 19, 2 (February 1956). P. 166. Ibid., p. 177.

Подробнее см.: Spring and Spring, 'Fall of the Grenvilles'. Pp. 169-174. 36 Ibid., p. 35

Heath, 'Grenvilles'., P. 39. 37

Spring and Spring, 'Fall of the Grenvilles'. P. 183. Heath,'Grenvilles'. P. 40. Ibid., p. 46.

Ben Bemanke, 'Housing, Housing Finance, and Monetary Policy', speech at the Kansas City Federal Reserve Bank's Jackson Hole Conference (31.8.2007).

Louis Hyman, 'Debtor Nation: How Consumer Credit Built Postwar 38 America', unpublished Ph.D. thesis (Harvard University, 2007), ch. 1. Edward E. Learner, 'Housing and the Business Cycle', paper presented at 39 Federal Reserve Bank of Kansas City's Jackson Hole Conference (August 40 2007).

Saronne Rubyan-Ling, 'The Detroit Murals of Diego Rivera', History 41 Today, 46, 4 (April 1996). Pp. 34-38. 42

б

Donald Lochbiler, 'Battle of the Garden Court', Detroit News, 15.7.1997. 43 Hyman, 'Debtor Nation', ch. 2.

Thomas J. Sugrue, The Origins of the Urban Crisis: Race and Inequality

in Postwar Detroit {Princeton, 1996). P. 64.

Ibid., pp. 38-43.

Hyman, 'Debtor Nation', ch. 5.

Sugrue, Origins of the Urban Crisis. P. 259.

О недавнем случае в Детройте см.: Ben Lefebvre, 'Justice Dept. Accuses Detroit Bank of Bias in Lending', New York Times, 20.5.2004. Glen O'Hara, From Dreams to Disillusionment: Economic and Social Planning in 1960s Britain (Basingstoke, 2007), ch. 5. Bernanke, 'Housing, Housing Finance, and Monetary Policy'. См. также: Roger Loewenstein, 'Who Needs the Mortgage-Interest Deduction?', New York Times Magazine, 5.3.2006.

Nigel Lawson, The View from No. 11: Memoirs of a Tory Radical (London, 1992). P. 821.

Living in Britain: General Household Survey 2002 (London, 2003). P. 30: http://www.statistics.gov.uk/cci/nugget.aspfid=821. Ned Eichler, 'Homebuilding in the 1980s: Crisis or Transition?', Annals of the American Academy of Political and Social Science, 465 (January 1983). P. 37.

Maureen O'Hara, 'Property Rights and the Financial Firm', Journal of Law and Economics, 24 (October 1981). Pp. 317-332. Eichler, 'Homebuilding'. P. 40. См. также: Henry N. Pontell and Kitty Calavita, 'White-Collar Crime in the Savings and Loan Scandal', Annals of the American Academy of Political and Social Science, 525 (January 1993). P. 31-45; Marcia Millon Cornett and Hassan Tehranian, 'An Examination of the Impact of the Garn-St Germain Depository Institutions Act of 1982 on Commercial Banks and Savings and Loans', Journal of Finance, 45,1 (March 1990). Pp. 95-111. Henry N. Pontell and Kitty Calavita, The Savings and Loan Industry', Crime and Justice, 18 (1993). P. 211. Ibid., p. 208.

F. Stevens Redburn, 'The Deeper Structure of the Savings and Loan

Disaster', Political Science and Politics, 24, 3 (September 1991). P. 439.

Pontell and Calavita, 'White-Collar Crime'. P. 37.

Allen Pusey, 'Fast Money and Fraud', New York Times, 23.4.1989.

K. Calavita, R. Tillman, and H. N. Pontell, 'The Savings and Loan

Debacle, Financial Crime and the State', Annual Review of Sociology, 23

(1997). R 23.

Pontell and Calavita, 'Savings and Loans Industry'. P. 215. Calavita, Tillman and Pontell, 'Savings and Loan Debacle'. P. 24. Allen Pusey and Christi Harlan, 'Bankers Shared in Profits from 1-30 Deals', Dallas Morning News, 29.1.1986.

Allen Pusey and Christi Harlan, '1-30 Real Estate Deals: A "Virtual Money Machine", Dallas Morning News, 26.1.1986. Pusey, 'Fast Money and Fraud'.

Pontell and Calavita, 'White-Collar Crime'. P. 43, См. также: Kitty Calavita and Henry N. Pontell, 'The; State and White-Collar Crime: Saving the Savings and Loans', Law Society Review, 28, 2 (1994). Pp. 297-324.

Сначала были опасения, что потери окажутся больше. В 1990-м власти называли сумму вплоть до 500 миллиардов долларов. По другим оценкам речь шла о триллионе долларов и даже больше: Pontell and Calavita, 'Savings and Loan Industry'. P. 203. Весьма живописный рассказ об этом см.: Michael Lewis, Liar's Poker (London,1980).Pp. 78-124.

Bernanke, 'Housing, Housing Finance, and Monetary Policy'. Значительную помощь в расчетах мне оказал Джозеф Бариллари. Morris A. Davisa, Andreas Lehnert and Robert F. Martin, 'The Rent» Price Ratio for the Aggregate Stock of Owner-Occupied Housing', Working paper (December 2007). Shiller, 'Recent Trends in House Prices'.

Carmen M. Reinhart and Kenneth S. Rogoff, 'Is the 2007 Sub-Prime Financial Crisis So Different? An International Historical Comparison', Draft Working Paper (14.1.2008).

Mark Whitehouse, 'Debt Bomb: Inside the "Subprime" Mortgage Debacle', Wall Street Journal, 30.5.2007.

См. Kimberly Blanton, 'A "Smoking Gun" on Race, Subprime Loans', Boston Globe, 16.3.2007.

'U.S. Housing Bust Fuels Blame Game', Wall Street Journal, 19.3.2008. См. также: David Wessel, 'Housing Bust Offers Insights', Wa// Street Journal, 10.4.2008.

Henry Louis Gates Jr., 'Forty Acres and a Gap in Wealth', New York Times, 18.11.2007.

Andy Meek, 'Frayser Foreclosures Revealed', Daily News, 21.9.2006. http: // www.responsiblelending.org/pageJsp7itemID = 32032031.

Credit Suisse, 'Foreclosure Trends — A Sobering Reality', Fixed Income Research (23.4.2008).

См.: Prabha Natarajan, 'Fannie, Freddie Could Hurt U.S. Credit', Wall Street Journal, 15.4.2008.

Economic Report of the President 2007, tables B-77 и B-76: http:// www. gpoaccess. go v/eop/.

George Magnus, 'Managing Minsky', UBS research paper, 27.3.2008. Hernando de Soto, The Mystery of Capital: Why Capitalism Triumphs in the West and Fails Everywhere Else (London, 2001). Idem, 'Interview: Land and Freedom', New Scientist, 27.4.2002. Idem, The Other Path (New York, 1989).

Rafael Di Telia, Sebastian Galiani and Ernesto Schargrodsky, 'The Formation of Beliefs: Evidence from the Allocation of Land Titles to Squatters', Quarterly Journal of Economics, 122,1 (February 2007). Pp. 209-241.

The Mystery of Capital Deepens', The Economist, 26.8.2006.

См.: John Gravois, 'The De Soto Delusion', Slate, 29.1.2005:

http://state, msn. com/id/2112j92/

Вся прибыль банка переводится в Фонд реабилитации, созданный для борьбы с чрезвычайными ситуациями, — благодаря этому Grameen избавляется от налога на прибыль корпораций. Connie Black, 'Millions for Millions', New Yorker, 30.10.2006. Pp. 62-73. Shiller, 'Recent Trends in House Prices'.

Edward L. Glaeser and Joseph Gyourko, 'Housing Dynamics', NBER Working Paper 12787 (обновленная версия, 31.3.2007). Robert J. Shiller, The New Financial Order: Risk in the 21st Century (Princeton, 2003).