CHICAGO, Ill., Sept. 20, 2011 (SEND2PRESS NEWSWIRE) — Financial author Robert Stowe England will host a book discussion and signing event for his soon-to-be released tome “Black Box Casino” (ISBN: 978-0313392894) at the Mortgage Bankers Association’s 98th Annual Convention and Expo in Chicago. The signing will take place on Oct. 10 from 6 – 8 p.m. in the East Tower at the Hyatt Regency Chicago.
Attendance at this exclusive event is by invitation only for registered MBA Annual attendees. Inquire about receiving an invitation, and reserving a discounted copy of “Black Box Casino” by writing to Leslie@DepthPR.com.
Expertly weaving interviews from numerous well-placed sources, the book chronicles the events leading up to and following the subprime meltdown and financial crisis of 2007. The Gaston Gazette, England’s hometown newspaper, writes, “This isn’t Truman Capote’s true crime. It’s scarier because we’re all the victims.”
Fannie Mae’s former Chief Risk Officer Ed Pinto also lends his stamp of approval to the book, stating, “Now it is Black Box Casino’s turn to shine a bright light on the root causes of the mortgage meltdown.”
The following is an excerpt from Chapter 6 of “Black Box Casino,” titled “Wall Street’s Subprime CDO Mania:”
Collateralized debt obligations were extremely complex and opaque. Like too many other instruments and entities in the financial markets, they had become black boxes to regulators, to AAA investors, and to the public. Both the complexity and opaqueness should have been a red flag to any prudent investor by 2004. Yet, instead of winding down, the flow of funds into subprime CDOs was about to explode even more as demand prompted yet more innovations that turned CDOs into casinos — black box casinos where only the most astute and informed could ascertain the considerable risks and reap the bountiful rewards that lurked there.
This event is being co-sponsored by Titan Lenders Corp. (www.titanlenderscorp.com), IDS (www.idsdoc.com), and DepthPR. For more information on “Black Box Casino” and England, visit http://www.robertstoweengland.com .
News Source: Robert Stowe England
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