Friday, October 29, 2010

How a Gang of Predatory Lenders and Wall Street Bankers Fleeced America--and Spawned a Global Crisis

I just read this excerpt of life in the sub-prime trenches according to author Michael Hudson.  It is a stunning account.  Unfortunately the new financial regulation policies do not address most of what was going on.

http://www.investorsinsight.com/blogs/john_mauldins_outside_the_box/archive/2010/10/25/how-a-gang-of-predatory-lenders-and-wall-street-bankers-fleeced-america-and-spawned-a-global-crisis.aspx

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