Jim’s Blog

Four days ago, Alan Greenspan posted an article wondering what went wrong:

“We will never have a perfect model of risk”

“Risk management systems – and the models at their core – were supposed to guard against outsized losses. How did we go so wrong?”

Hey Alan! Check your spam folder for 2006. You will find it is full of ads saying:

“Buy the house of your dreams for no money down! No credit? Bad credit? No Income? No Problem!”

Gimme some of what he’s been smoking.

This entry was posted on Thursday, March 20th, 2008 at 10:01 am and is filed under economics. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.