tadhg.com
tadhg.com
 

Building the Bubble

23:30 Tue 04 May 2010. Updated: 01:32 05 May 2010
[, , ]

Was there a conspiracy to build doomed-to-fail speculative bubbles on dubious mortgages? Very likely, but not necessarily in the classic meetings-in-smoky-rooms fashion. Mike Whitney’s article “The Subprime Conspiracy” summarizes what was going on, and who knew about it. It also provides a good description of how the common idea of “conspiracy” can be quite naive, and that matching incentives are all that’s really required.

Leave a Reply