“Eisman knew subprime lenders could be scumbags. What he underestimated was the total unabashed complicity of the upper class of American capitalism.”
Michael Lewis, author of Liar’s Poker and other misadventures in bourgeois finance has a pretty great article outlining the rotten investments, deception, and cluelessness at the heart of the US financial system that helped precipitate the current crisis.
It’s useful to throw at any friends and family who think that this crisis is merely: a) cyclical; b) due to a few bad hats like Madoff; or, c) something that can be fixed by throwing fiscal stimuli at. The rot, my friends, is deeper…
"I told you so!"
Karya Gerila 