Peter Wallison, an economist who arguably predicted the housing crash and bailout in 1999 explains his current views on the crash: "Other players...played a part" but "...government policy over many years--particularly the use of the Community Reinvestment Act and Fannie Mae and Freddie Mac to distort the housing credit system-- underlies the current crisis."
posted by shivohum on Feb 11, 2009 - 98 comments

Anatomy of a Meltdown - Ben Bernanke and the financial crisis (in one page)
posted by Gyan on Nov 24, 2008 - 61 comments

More subprime collateral damage. Iceland's now getting a $5B bailout from Russia. What does Russia want in return? Access to shipping lanes? The old US base? via
posted by blahblah on Oct 7, 2008 - 48 comments

This is definitely not a good time to be in the bond insurance business. With large-scale insurers Ambac and MBIA -- and with smaller players faring no better -- one could well think that in the end the lending crisis has brought to light considerable flaws at the very basis of the American -- and indeed global -- financial sector. (all links above except the first lead to 6-month stock charts) [more inside]
posted by clevershark on Jan 23, 2008 - 19 comments