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Why The Busts Keep Getting Bigger: Krugman

Krugman Why Busts Are Getting Bigger

First Posted: 06/24/11 07:33 PM ET Updated: 08/24/11 06:12 AM ET

The New York Review Of Books:

Suppose we describe the following situation: major US financial institutions have badly overreached. They created and sold new financial instruments without understanding the risk. They poured money into dubious loans in pursuit of short-term profits, dismissing clear warnings that the borrowers might not be able to repay those loans.

Read the whole story: The New York Review Of Books

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Filed by James Sunshine  |