I’m working through a backlog of old posts. The American Scene had a nice summary of how the structured credit products &emdash; the ones that blew up in the crisis &emdash; actually worked.
This was my favorite story back from the financial crisis. Andrew Lahde made a fortune betting on the housing bubble collapse. Then he wrote a farewell letter mocking the Ivy Leaguers whose money he took, and then quit the business.
An oldie but a goodie: Busting Bernie Madoff: One Man’s 10 Year Crusade.
Here’s some surprising news. Iceland’s GDP falls less than expected. The total collapse of its financial sector has been mitigated by the collapse in its currency, which has made Iceland’s other exports of fish and aluminum more competitive.
Dr. Housing Bubble has a post describing the Florida housing bubble in the Roaring Twenties. It makes our housing bubble look like a staid and responsible affair.
Doris Dungey, better known as Tanta, one of the two bloggers at Calculated Risk, died on Sunday after a long bout with cancer. Tanta began blogging after her cancer had gone into remission. So even though she knew that the time left to her was short, she took the time to try to illuminate for us how we got into our current predicament. It was a heroic act, and one that will be long remembered.
Her coblogger, CR, has assembled a complete list of Tanta’s posts.
Being from Philadelphia, this post that describes how Philadelphia sports success leads to US economic failure strikes me as funny.
Macroblog has an explanation of why the Fed started paying interest on reserves.