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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Pogeu Mahone who wrote (149211)9/22/2008 10:58:47 PM
From: neolibRead Replies (2) of 306849
 
It is interesting to note the date and content of that article:

Sept 16 & this: Last week the US treasury secretary, Henry Paulson, judged there was sufficient systemic risk to warrant a government rescue of mortgage giants Fannie Mae and Freddie Mac; but there was not sufficient systemic risk seen in Lehman.


As it turns out, there was systemic risk in letting Lehman fail, as we now know one week later. So Paulson ain't the Pope of Finance, and pundits musings can get outdated pretty quick. In the latter part of last week things got much closer to the edge than one Joseph Stiglitz (Nobel winner and all) seems to think it would at the beginning of last week. Of course, he gets a lot of things correct as well.
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