Subprime Mess

Harvard Economics Professor Greg Manikiw briefly blogged about the looming economic mess.

Confused about what has been happening in the markets? This Primer explains all the key issues. Current [Harvard Econ] EC 10 students will see that the story told here is similar to that told by John Campbell in his guest lecture last week.

The extremely funny primer is here

CAUTION:
(a) Empty mouth of all fluids prior to viewing. It is really funny.
(b) Language used throughout the slide set may not be suitable for children.

OPINION: I'm annoyed with the looming congressional bailout of both those who received "Liar's Loans" and also the Really Smart Guys who have foisted this situation on us. I fear that we will suffer yet more government regulation similar to SOX.