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Friday, August 17, 2007 12:00 AM

Panic on Wall Street

You've heard about the home-loan bust, but do you know your derivatives from your tranches? Read Salon's easy guide to understanding the current market freakout.

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  • Thursday, August 16, 2007 08:23 PM

    Walter Map

    re: We have seen this coming.

    Yes, Master Yoda, that is a fact. I thank you for the many articles to which you have pointed me and your own learned posts over the years that have given me even the modest understanding of the situation I now (think I) have.

    We might also now conclude that, like virtually every other matter since Bush took (and I do mean "took") office, we have been systematically lied to about the economy. Think about it: This is the same bunch who sold us the snake oil of WMDs, who have been busted by government scientists for purposely skewing scientific data to conform to policy, etc. What makes anyone think they haven't done exactly the same thing with all the economic data put out by the government, upon which honest people rely for guidance?

    As with the disaster in Iraq, these non-reality based goofballs think that they can just conjure up an alternate reality at will.

    The problem is, objective reality always rears its ugly head.

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