Denninger speaks truth to power.
Hat Tip: Housing Panic
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Bubble Meter is a national housing bubble blog dedicated to tracking the continuing decline of the housing bubble throughout the USA. It is a long and slow decline. Housing prices were simply unsustainable. National housing bubble coverage. Please join in the discussion.
This guy is blaming CEO's (e.g. Thain, Pandit) who were not CEO's of the reckless companies until after the credit crunch began. Thain and Pandit were hired to fix the recklessness of their predecessors. I don't understand why they deserve blame. The people he should be blaming are their predecessors, Stanley O'Neal and Chuck Prince.
ReplyDeletethis guy is plain annoying, has some points but is a total doofis
ReplyDeleteAsk people in Chicago what they think of Karl Denninger. Go to usenet and ask.
ReplyDelete