A fascinating look at the inner workings of the market for subprime mortgages, and the machinations of the groups involved in the industry. Many good macroeconomic concepts are used; and the question of regulation vs deregulation of a particular kind of curious market discussed. YOu can get into whether anyone’s conduct was unethical, and whether the palyers were simply using the rational economic approach. It’s a quick intro to “financial engineering”.
Moody’s – Credit Rating – Mortgages – Investments – Subprime Mortgages – New York Times
