"There was no actual homebuyer or borrower"
The articles and analyses about the financial bust last year seem to be drawing to a close. Journalists and readers alike claim to be bored of them. This is unfortunate since we are only starting to gain some perspective on what actually went down in these fateful few weeks last September. Now's the time when we'll really learn what sank the once mighty ships of Wall Street. An interesting starting point is the article by Michael Lewis (of Liar's Poker fame - the book that convinced me not to follow my classmates into finance a decade ago) in Portfolio Magazine. He makes a shocking discovery: Crappy homeloans didn't sink the economy - imaginary homeloans did! Read more here.
PS! A wonderful site for all TEDtalks-lovers is Fora.tv. The site, with the humble tagline "The world is thinking", is a collection of videos from the world of poltiics, business, tech, science and so on. The most viewed video rigfht now is a delightful presentation at The Entertainment Gathering (TED founder Richard Saul Wurman's new conference) where he confronts those who accuse his globe-trotting dancevideo to be a hoax. Enjoy!
