The Goldman Drama

Between 1997 and 2006, consumers, lenders and builders created a housing bubble, and pretty much the entire establishment missed it. Fannie Mae and Freddie Mac and the people who regulate them missed it. The big commercial banks and the people who...

David Brooks is dependably ideological.

The Goldman Drama

"decentralized markets are often better at anticipating the future" Where, exactly, have you been for the past 2 years?

The problem is that they did and they acted on the prediction. Caveat Emptor is always the rule. This was a "Pig in a poke" And the cat is out of the bag.