Thursday, 29 January 2009

De-crunching the Credit Crunch

Struggling to de-tangle your collateralised debt obligations from your structured investment vehicles? What about your credit default swaps from your mark-to-market accounting? Well, you are not alone and help is at hand. Jeff Madrick, author of The Case for Big Government, has written the clearest account of the Credit Crunch that I've read to date. It's in the current edition of the New York Review of Books and also presents a clear proposition on what to do now.

No excuse for mixing up your Bear Stearns with your bull-logoed Merrill Lynch now.

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