Nowadays, it seems like everyone claims they foresaw the magnitude of
the collateral damage that hit after the U.S. housing bubble burst.
In reality, most people ignored the major warning signs.
In July 2007, Bear Stearns disclosed that two of its credit hedge
funds with exposure to subprime mortgages had lost nearly all of their
value.
Yet the S&P 500 didn’t peak until October 2007, well after
problems in the mortgage market had begun to spread. And even then, most
economists and strategists were clueless as to what would happen next. (more)
Please share this article
No comments:
Post a Comment