It's long, but it's worth a gander to see how everything else screwed up besides the subprime loan fiasco. I read it twice, I thought it was that good.
posted on 11/15/2011 8:12:26 PM PST
All the seeming mathematical precision that was brought to investment, all the complicated new products, including the explosion of derivatives, that were intended to diffuse and minimize risk...
LOL! Are you crazy, Paul? Socialism leveraged and compounded with more socialism...
...and continued by bailout socialism.
posted on 11/15/2011 8:23:56 PM PST
Paul Volcker is an idiot. He completely misses the point, that it’s the moral hazard created by central banks which got us this mess.
I enjoyed the article. Thanks for posting.
posted on 11/15/2011 9:07:56 PM PST
(RINOS beware: shape up, or we'll feed you to the Pauliban.)
After Volcker missed the boat with his investigation of the oil-for-food scandal, I don’t lend a lot of credibility to his meanderings.
posted on 11/15/2011 9:28:22 PM PST
by Ben Hecks
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