Thursday, November 13, 2008

The engine of doom - Michael Lewis of "Liar's Poker" has a must-read article (long, some salty language) on the subprime mortgage mess. If you want to know why Wall Street imploded, here's a good place to start: "In Bakersfield, California, a Mexican strawberry picker with an income of $14,000 and no English was lent every penny he needed to buy a house for $720,000."

2 comments:

Anonymous said...

Salty language? Well, I do declare! I believe I'm having the vapors!

commoncents said...

Great post!

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