Wednesday, February 13, 2008

The vicious circle that trapped America

Business News Article

It would seem that even the US are owning up to the fact that they have simply spent too much and that they will have to readjust...

Posted by orwell @ 08:22 AM (447 views)
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One thought on “The vicious circle that trapped America

  • The label “subprime” is just that. A label. And a bad one

    What we face here is a mispricing of risk. Period. Especially to those who are overlevered

    The idea that “unemployed black men in string vests sitting on a porch in Alabama” are the root cause of this is nonsense. That segment of the market was always dwarfed by the so-called “middle classes with good-credit” who just wanted that bigger house, better car, more exclusive holiday and more nights out at restaurants.

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