Mystery score

Mystery score

Monday, September 15, 2008

The Current Financial Mess

If you're wondering how we got into the current mess, start with Paul Krugman's book-tour talk at Google last December. He decided against talking about the book - The Conscience of a Liberal - and instead discussed the subprime mortgage crisis. It's a complicated issue, but he is extremely lucid. (That's Google Chief Economist Hal Varian introducing him, by the way.)
Go on to the Times after that for more about how Lehman Bros. went under, Merrill Lynch sold itself, and AIG...well, we'll see about AIG, won't we. Right now, they're hanging on by the skin of their teeth.

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