Comparing Guns, Credit Derivatives Guns don’t kill people, people kill people. –NRA bumper sticker Credit derivatives don’t blow up financial systems, people do. –Wall Street mantra du jour Despite the incalculable harm wrought by credit derivatives on the U.S. — and global — financial system the past two years, Wall Street is clearly resistant to...Read More
“Geithner Says China Has Faith in U.S.” –headline, The New York Times (6/3/09) [Editor’s Note: Sorry, I’m on a China kick — just one more in that vein. And yes, it does bear on real estate. In fact, whether China keeps buying U.S. debt — and therefore whether mortgage rates stay low — is probably...Read More
