1
If you've got some spare time...
...this is worth a read.
It's a paper from the Bank of International Settlements called The housing meltdown: Why did it happen in the United States?
Only 36 pages...not so painful.
Hat tip to Barry Ritholtz at The Big Picture
About the author
Kai Ryssdal is the host and senior editor of Marketplace, public radio’s program on business and the economy. Follow Kai on Twitter @kairyssdal.
"The job of financial journalists was to examine the sharks who created interest crises and speculated away the savings of the small investors, to scrutinize company boards with the same merciless zeal with which political reporters pursue the tiniest steps out of line of ministers and members of Parliament. He could not for the life of him understand why so many financial reporters treated mediocre financial whelps as rock stars." Steig Larsson in "The Girl with the Dragon Tattoo"
Does this sound familiar? Neither the government nor the financial journalists were watching the store because they had their hands in someone else's pocket.
