Sunday, April 6, 2008

Like an Onion

My thought for the day: The credit crisis is like an onion: every time you peel back another layer, you want to cry. The following BusinessWeek article, "Death of a Bond Insurer," by David Henry and Matthew Goldstein, gives new meaning to the phrases "house of cards" and "paper shufflers." After reading it, I'm betting that a lot of people are going to be asking themselves one question: "Why are we bailing out Wall Street?" Wall Street used ACA to hide loads of subprime risk. It workedâ€"until

No comments: