Saturday, December 3, 2011

If it sounds too good to be true…

Has US learned the lesson of Enron 10 years later?

Analysis of how rotten much of the US financial system, including the housing con, has been over the past decade - much of it applicable here, just change a few names. Nice quotes too, including: "People were using their homes like automated teller machines," says David Rosenberg, chief economist at Gluskin Sheff & Associates and a big critic of lending during the boom. "At some point, people have to own up to their mistakes." And, of course, you are left with the impression the answer to the question on the headline is a resounding 'No'.

Posted by stuartking @ 12:26 AM (1035 views)
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2 thoughts on “If it sounds too good to be true…

  • general congreve says:

    No.

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