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Pathological gamblers manage our money, what did you expect?

September 23, 2008 - 11:00pm
By Tony Manfred

Like the vast majority of Americans I have no idea why the economy crumbles before our eyes. It has something to do with bundling mortgages though. Something to do with “securitization” and risky loans and “collateralized debt obligations” and stuff. Apparently cheap foreign capital looking for yields was involved.