In Wednesday's New York Times David Leonhardt attempts to explain in lay terms how trouble with sub-prime mortgages have had such a dire impact on banks and the financial markets. And he attempts to reassure readers that they shouldn't feel bad if they are confused, because there are many seasoned bankers, regulators, and economists who are also confounded. That piece of information is not very comforting!
Read the article:
Can’t Grasp Credit Crisis? Join the Club
By DAVID LEONHARDT
The New York Times
Published: March 19, 2008