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Great article by one of my favorite authors. A couple of points - it's dangerous to have executives, regulators, and legislators dealing with financial instrume
by azgolfer 17y ago
Great article by one of my favorite authors. A couple of points - it's dangerous to have executives, regulators, and legislators dealing with financial instruments that are very difficult to understand. It's also dangerous to build models on historical data when the rules are changing. IMO the root of the problem was people like Barney Frank and organizations like Fannie Mae who pushed for more subprime lending.
- tphyahoo 17y agoI agree that the traders weren't the primary villains, although they certainly traded a hell of a whistleblower opportunity for a fat paycheck. I refuse to believe there aren't real villains, that they have names, faces, addresses, and that they knew what they were doing and didn't give a shit. http://solari.com/archive/freddie-fannie-penny-stocks/ http://solari.com/archive/freddie-fannie-penny-stocks/