Book Talk: Susan Gates
(National Capital Region)
Susan Gates will discuss her new book "Days of Slaughter; Inside the Fall of Freddie Mac and Why It Could Happen Again."
Gates is founder of Wharton Policy Group, LLC, and teaches at the Virginia Tech Center for Public Administration and Policy (CPAP) and the Pamplin College of Business. She was a Freddie Mac employee for 19 years and served as vice president of public policy.
In "Days of Slaughter," Gates provides a vivid eyewitness account of the competing economic and political forces that let to massive losses for shareholders, investors, homeowners, and taxpayers. With a keen eye to the policy landscape, Gates relates the fateful decisions that led to Freddie Mac's downfall and desperate rescue.
She also examines today's headlines about potential future bailouts, the uneven housing recovery, and stymied congressional reform efforts. Throughout the book, she argues that policymakers will be unable to safely reform the massive housing finance system that currently rests squarely on taxpayer shoulders without addressing deeper issues of ideology, moral hazard, and interest group politics.