The Subprime Primer
My stalwart co-blogger, Bruce Henderson, has been waving his arms here on ASIP for roughly two years now about the coming financial crisis, with a particular focus on the subprime fiasco.
Well, here’s a link to a funny, scathing, profane, yet quite accurate presentation (using stick figures) on how we got into the subprime mess in the first place. Those of you who have read Henderson’s posting will recognize that he’s laid out most of these issue before. All of it brings up the question: what the hell were they (the various mortgage brokers and financial institutions) thinking?
Hat tip to Jonah Goldberg at NRO. ..bruce w..
Category: Credit Backlash, Economics, Main, Recession Watch
About the Author (Author Profile)
Webster is Principal and Founder at Bruce F. Webster & Associates, as well as an Adjunct Professor of Computer Science at Brigham Young University. He works with organizations to help them with troubled or failed information technology (IT) projects. He has also worked in several dozen legal cases as a consultant and as a testifying expert, both in the United States and Japan. He can be reached at bwebster@bfwa.com, or you can follow him on Twitter as @bfwebster.Subscribe
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