"The problem with socialism is you eventually run out of other people's money" - Margaret Thatcher
"The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design" - F.A. Hayek
Tuesday, December 16, 2008
Subprime mess...Step II.
From Bob Carpenter at the Richmond Fed:
Everyone pays their mortgage ... everyone gets paid and all are happy.
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