Civilization, in every generation, must be defended from barbarians.
The barbarians outside the gate, the barbarians inside the gate, and the barbarian in the mirror...
Friday, March 21, 2008
Swimming Naked
A good job done, with plenty of numerical examples, of describing the "reasonable" assumptions that created the subprime pyramid, and the impact of these assumptions failing miserably (and in a snowballing fashion).
No comments:
Post a Comment