Fri, 28 Dec 2007

Credit Crisis? Just Wait for a Replay

There's a cloud on the horizon, that's for sure. And in the humble opinion of this non-banker, it has everything to do with financial institutions being allowed to "repackage" their loans as "derivatives" and foist them on unsuspecting investors.

If this plays out the way I think it will, pretty much everyone involved is going to get pretty much exactly what they deserve.

Just how different was subprime lending from other lending in the days of easy money that prevailed until this summer?

(link) [NYT > NYTimes.com Home]

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