Random Feed wrote an interesting post today on
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From an economic analysis and policy standpoint, it matters not that droves of people full of irrational exuberance were willing to bet it all on housing. It only matters what made those bets possible. In other words, what opened the flood gates, not why did people choose to run through them.

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Random Feed wrote an interesting post today on
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Much has been written about the causes of the foreclosure crisis. Blame has been placed on everyone from irresponsible homeowners to greedy real estate agents, appraisers, and lenders, to sloppy investors, to apathetic government regulators. Others have blamed a “boom psychology”, contending that market participants got carried away by a collective and irrational belief in never-ending house price appreciation. This view is the most recent incantation of Alan Greenspan’s now famous expression, “

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Random Feed wrote an interesting post today on
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Capitalism and the Cheating Ethic By Steven Malanga The further we get from the housing bubble that helped to prompt our current financial meltdown, the less we seem bothered by the decline in trustworthiness and the rise in cheating that fueled the irrational exuberance of the home mortgage market. And then along comes New York Times reporter Edmund Andrews to remind us of that era via his own personal story of attempted mortgage deception and borrowing irresponsibility. If you

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Random Feed wrote an interesting post today on
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I felt it coming last week - a wave of positive stories about US banks doing better, with the icing on the cake arriving today with news of Citigroup’s record quarter . The markets have soared and gold has plunged. I’m not the only one who sees this as a classic sucker’s rally. The Times’ smartest columnist looks at the breaking news and sees irrational exuberance aplenty . Wells Fargo, for example, announced its best quarterly earnings ever. But a bank’s reported earnings aren’t a har

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