The definitive account of the housing bubble that caused the Great Recession—and earned Wall Street fantastic profits. The American housing bubble of the 2000s caused the worst global financial crisis since the Great Depression. In this definitive account, Adam Levitin and Susan Wachter pinpoint its source: the shift in mortgage financing from securitization by Fannie Mae and Freddie Mac to “private-label securitization” by Wall Street banks. This change set off a race to the bottom in mortgage underwriting standards, as banks competed in laxity to gain market share. The Great American Housing Bubble tells the story of the transformation of mortgage lending from a dysfunctional, local affair, featuring short-term, interest-only “bullet” loans, to a robust, national market based around the thirty-year fixed-rate mortgage, a uniquely American innovation that served as the foundation for the middle class. Levitin and Wachter show how Fannie and Freddie’s market power kept risk in check until 2003, when mortgage financing shifted sharply to private-label securitization, as lenders looked for a way to sustain lending volume following an unprecedented refinancing wave. Private-label securitization brought a return of bullet loans, which had lower initial payments—enabling borrowers to borrow more—but much greater back-loaded risks. These loans produced a vast oversupply of underpriced mortgage finance that drove up home prices unsustainably. When the bubble burst, it set off a destructive downward spiral of home prices and foreclosures. Levitin and Wachter propose a rebuild of the housing finance system that ensures the widespread availability of the thirty-year fixed-rate mortgage, while preventing underwriting competition and shifting risk away from the public to private investors.

Cavitation and Bubble Dynamics: Fundamentals and Applications examines the latest advances in the field of cavitation and multiphase flows, including associated effects such as material erosion and spray instabilities. This book tackles the challenges of cavitation hindrance in the industrial world, while also drawing on interdisciplinary research to inform academic audiences on the latest advances in the fundamentals. Contributions to the book come from a wide range of specialists in areas including fuel systems, hydropower, marine engineering, multiphase flows and computational fluid mechanics, allowing readers to discover novel interdisciplinary experimentation techniques and research results. This book will be an essential tool for industry professionals and researchers working on applications where cavitation hindrance affects reliability, noise, and vibrations. - Covers a wide range of cavitation and bubble dynamics phenomena, including shock wave emission, jetting, and luminescence - Provides the latest advice about applications including cavitation tunnels, cavitation testing, flow designs to avoid cavitation in pumps and other hydromachinery, and flow lines - Describes novel experimental techniques, such as x-ray imaging and new computational techniques

This book explores the interplay of bubble dynamics and shock waves, covering shock wave emission by laser generated bubbles, pulsating bubbles near boundaries, interaction of shock waves with bubble clouds, applications in shock wave lithotripsy, and more.

Nosetalgia is the first and only book of its kind in the world. And it literally stinks! It has 14 nostalgic scratch-and-sniff spots to take you back.In the hyper-protective, safety-conscious world we live in, we can consider it a badge of honor that as kids we breathed in the deliciously noxious smells of damp mimeograph paper, model airplane glue, Wite-Out, rubber cement, Magic Markers, and Superelastic Bubble Plastic and lived to tell about it. Very few things transport you in time like your sense of smell. It is the oldest, most primal sense and the one most tied to memory. And while we can identify over 10,000 individual smells, it is still the most underappreciated of all our senses. The authors of Nosetalgia: The Smells That Take You Back present a way to help release stored and oft-forgotten childhood memories. This unique book features 96 pages of vibrant, full-color photos of a wide variety of items from the '50s, '60s, '70s, and '80s, from Lip Smackers to Odorama memorabilia. To complete the experience, there are 14 scratch-and-sniff scent spots, from menthol (recalling Vick's VapoRub) to coconut (Coppertone suntan lotion and the smell of piña coladas) and a variety of bubblegums, perfumes, and colognes to help trigger smell memories for the reader. It is a scratch-and-sniff book for grownups who want to relive the glory days of their childhoods. People the world over continue to ride the wave of nostalgia that has swept the entire globe. Nosetalgia will be a coffee-table must-have. It is something people will flip through again and again and will tell their friends about.

Instrumentation, Control and Automation of Water and Wastewater Treatment and Transport Systems documents the proceedings of the 5th IAWPRC Workshop held in Yokohama and Kyoto, Japan, 26 July-3 August 1990. The papers presented at this Workshop have emphasized the following aspects: • new sensor technology based on developments in electrochemistry, fiber optics, and electro-optics; • research into materials such as those needed to produce membranes of the required selectivity, for immobilization of reactive species, and for addition of reagents and standards; • the use of inferential measurements coupled with expert system technology; • the ever-increasing power of microprocessors and the continuing reduction in their unit costs; • better communications capability; • improved mathematical modeling; • an increased awareness of the improved management that results from the timely availability of relevant data to the appropriate levels in the management hierarchy. This book, together with the proceedings of previous workshops, provides what is probably the most comprehensive account of the state of the art and recent developments in instrumentation, control, and automation as applied to the water and water-using industries, and as such will be invaluable to the practitioner, the researcher, and the student community.

During the 1820s and 30s nautical melodramas "reigned supreme" on London stages, entertaining the mariners and maritime workers who comprised a large part of the audience for small theatres with the same sentimental moments and comic interludes of domestic melodrama mixed with patriotic images that communicated and reinforced imperial themes. However, generally the study of British theatre history moves from medieval and renaissance plays directly to the realism and naturalism of late Victorian and modern drama. Readers typically encounter a gap between Restoration and eighteenth-century plays like those of Oliver Goldsmith and Richard Brinsley Sheridan, and late-nineteenth plays by Henrik Ibsen and Oscar Wilde. Nineteenth-century drama, with the possible exception of plays by Byron, Shelley, and Wordsworth, remains all but invisible. Until recently, melodramatic plays written and performed during this "gap" received little scholarly attention, but their value as reflections of Britain’s promulgation of imperial ideology — and its role in constructing and maintaining class, gender, and racial identities — have given discussions of melodrama force and momentum. The plays in included in these three volumes have never appeared in a critical anthology and most have not been republished since their original nineteenth-century editions. Each play is transcribed from the original documents and includes an author biography, a headnote about the play itself, full annotations with brief definitions of unfamiliar vocabulary, and explanatory notes. Comprehensive editorial apparatus details the nineteenth-century imperial, naval, political, and social history relevant to the plays’ nautical themes, as well as discussing nineteenth-century theatre history, melodrama generally, and the nautical melodrama in particular. Contemporary theatre practices — acting, audiences, staging, lighting, special effects — are also examined. An extensive bibliography of primary and secondary texts; a complete index; and contemporary images of the actors, theatres, stage sets, playbills, costumes, and locales have been compiled to aid study further. The appendices include maps of Britain, Europe, and the East and West Indies.