Alt-A Mortgages - The credit crisis is nowhere near over
by The Lighthouse Keeper
Mon Mar 17, 2008 at 05:45:17 PM PDT
Since last July, we've been treated to an unremitting series of massive subprime asset writeoffs by all of the major players in the American finance industry. As a result of the massive credit bubble and housing bubble, the two of which are closely intertwined, American financial institutions have lost virtually all credibility and American financial managers are now the butt of jokes the world over for their incompetence, their provinciality and most of all for their reckless greed.
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