By way of randwolf, another good (and very clear) analysis of the mortgage bubble problem. (Now with real link! Doh!)
Like author Mark Chu-Carroll, I find it difficult to believe that supposedly skilled investors did anything this stupid. It's as though someone from space aimed a giant Stupid Ray at Wall Street.
I suppose it comes down to just another example of the incredible power of sheer unrestrained greed. Radix malorum cupiditas est.¹
[1] Word order in Latin sentences is flexible, because every word in the sentence gets declined to unambiguously show which part of the sentence it is. Thus in Latin, the three sentences 'Radix malorum est cupiditas', 'Radix malorum cupiditas est', and 'Cupiditas radix malorum est' are equivalent (though the first two forms are the most common).
no subject
While I have you "on the line", so to speak, how's Zane doing? We've been wondering, and worrying....