it's good. They thought up a way to hide risk by spreading it all over the financial system, so that when it went bad it screwed up the entire financial system. It's like hiding plutonium by blowing it up so that plutonium dust is evenly distributed in the atmosphere.
On Feb 15, 2008 7:40 PM, Michael Perelman <[EMAIL PROTECTED]> wrote: > David Shemano sent a funny explanation of the subprime crisis. He kindly > asked if > he should post it to the list, but it is far to big for most mailboxes. > > I put a link to it here. > > http://michaelperelman.wordpress.com/2008/02/15/a-subprime-primer/ > -- > Michael Perelman > Economics Department > California State University > Chico, CA 95929 > > Tel. 530-898-5321 > E-Mail michael at ecst.csuchico.edu > michaelperelman.wordpress.com > -- Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own way and let people talk.) -- Karl, paraphrasing Dante.
