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."


Anonymous said...

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

commoncents said...

Great post!

Would you like a Link Exchange with our new blog COMMON CENTS where we blog about the issues of the day??