27
Aug
naked capitalism: Mirabile Dictu! Is It Becoming Respectable to …
Posted by: / Category: UncategorizedYves Smith wrote an interesting post today onnaked capitalism: Mirabile Dictu! Is It Becoming Respectable to <b>…</b>
Here’s a quick excerpt
A new and welcome front may be opening in the efforts to rein in an overly powerful and now explicitly state-backed financial services industry: challenging its claims that its activities are good for society. While the provision of credit … The estimated $4000bn of losses in US mortgage-related securities are just the surface of the story. Beneath those losses are real economic costs due to wasted resources: mortgage mis-pricing led the US to build far too many houses. …
Read the rest of this great post here: naked capitalism: Mirabile Dictu! Is It Becoming Respectable to <b>…</b>
