Thursday, October 09, 2008

The subprime primer

In case you haven't seen this, it's pretty funny (strong language warning).

Special bonus: The Making of Goldman Sachs. Leonard Lopate interviews Charles Ellis, the author of The Partnership.

Double plus good: the Times goes after Greenspan and those weapons of mass destruction, derivatives.


Anonymous said...

Its good to laugh, otherwise I'd be crying.

Hopefully they'll expand the primer to include the homebuilders, Greenspan / Bernake, rating agency collusion and the whole CDS edifice.

Luke Lea said...

Obviously, Rubin's and Summers's reputations have also been fatally tainted. Who does that leave -- for example, who can Obama trust for sound economic advice? Pritzker, Johnson, . . ., who???

Luke Lea said...

I should add Clinton to that list above. Indeed, not only did Clinton sign the bill against derivative deregulation, he is also responsible for the initial failure to enforce our immigration laws, and for not realizing that Nafta and GATT would adversely impact American wages. Not much of a legacy for our middle classes.

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