Tuesday, January 24, 2012


1 comment:

farmland investing said...

Read the TIME piece. The point about the over-reliance on models is so true. The "models" showed the AIG financial products group that entering all these CDS contracts was a can't miss one way bet. US$180 billion later, turns out they were wrong. I knew there was a housing bubble when the secretary at our office said she was buying a second condo as an investment because "housing prices never go down." This was November 2006!