The End of Wall Street
Unbelievable. From Portfolio’s “The End of Wall Street” article: “In Bakersfield, California, a Mexican strawberry picker with an income of $14,000 and no English was lent every penny he needed to buy a house for $720,000.”
Unbelievable. From Portfolio’s “The End of Wall Street” article: “In Bakersfield, California, a Mexican strawberry picker with an income of $14,000 and no English was lent every penny he needed to buy a house for $720,000.”
December 20th, 2008 at 8:52 am
This is shocking, and glaringly incompetent:
“He called Standard & Poor’s and asked what would happen to default rates if real estate prices fell. The man at S&P couldn’t say; its model for home prices had no ability to accept a negative number. “They were just assuming home prices would keep going up,†Eisman says.”
Shame.
ps Still love the tree.