Saturday, March 29, 2008

Words to Describe the Subprime Crisis...

I think it's the best description I've seen about the current mortgage malaise from my favorite former member of the Bush cabinet, Paul O'Neil:

NYT: It’s so hard to understand how the subprime mortgage crisis has triggered a financial crisis of global proportions.

A: If you have 10 bottles of water, and one bottle had poison in it, and you didn’t know which one, you probably wouldn’t drink out of any of the 10 bottles; that’s basically what we’ve got there.


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