Re: [RT] Excellent article on the credit bubble

[DH <catapult@xxxxxxxxxxxxxx>]

Here's another one for those who like scaring themselves. :-)

http://www.contraryinvestor.com/moarchive/mo120700.htm

The big banks are hangin' it out there. No question about it. 

That said, I'm somewhat surprised that the author of the piece JW posted
would take on face value Bob Woodward's interpretation of Greenspan's
knowledge about the economy. He reads a superficial book, written by a
superficial popular author whose knowledge of economics consists of
depositing his paycheck, and concludes that Greenspan has a superficial
understanding of his job. Woodward doesn't mention something so Nolan
concludes that Greenspan isn't aware of it. Please, the credit problems
are real enough that the author needn't stoop to such levels, thus
damaging his own credibility.

-- 
  Dennis

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