how did we get here?

Well, I can’t even come close to answering that. But there are a couple of people, in the know, who are doing a pretty good job of it. One of those people is Paddy Hirsch. In his presentation, he uses the analogy of filling champagne bottles. I originally saw this on Nati Shalom’s (of GigaSpaces fame) post, Financial crisis explained. If you have some time (about 6 minutes), definitely take a look.

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2 Responses to how did we get here?

  1. xrellix says:

    WTF? it explains crap.
    Did you watch the last 2 60-minutes specials on the financial crisis – they gave great explanations. Layering complex securities on top of bad mortgages was one problem – but the side-betting called credit default swaps was the tumbling force. This type of gambling was outlawed after the 1907 crash but deregulated in 2000.

  2. Jay says:

    Yes, there are more factors that led us into this current crisis. But the CDOs playing a ponzi scheme with (domestic and international) investor money was the root of this evil.

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