Breached Levee’s & Underwater Mortgages If the housing bust and resulting recession are the equivalent of an economic hurricane (albeit a man-made one), what were the levees designed to hold back the flood waters? Certainly, the major ones were: –the role played — or not played — by the credit rating agencies, which blatantly mis-rated...Read More
What is making people miserable? No one knows. I don’t mean that no one knows the answer to this question. I mean that the answer to this question is that no one knows ” and not knowing is making us sick. –Daniel Gilbert, “What You Don’t Know Makes You Nervous“; The NY Times (5/21/09) Gilbert,...Read More
