surabhi tomar <[EMAIL PROTECTED]> writes: > Yes, most of people doing such speculations (even from within the > industry) do not have the entire picture. But then, if they did, > this mess would have been avoided. > > What would you say for this: > > http://logicalreligion.blogspot.com/2008/09/subprime-for-dummies_22.html
It doesn't quite get all the details spot on. It also doesn't quite get to the causes of the whole thing -- a lot of things piled on here, from the mere existence of the GSEs to the community reinvestment act to the creation and abuse of FICO scores and on and on. However, it does cover the idiocy of the whole thing quite well. Perry -- Perry E. Metzger [EMAIL PROTECTED]
