Collapse of the Great Housing Bubble
A couple of very detailed posts outlining the technical structure which, at least to some extent, allowed the housing bubble/subprime fiasco to take place.

Reads like a textbook, but speaks volumes about why and how the financial systems failed to prevent greed from taking over... after you skip the song lyrics at the beginning of each post, that is.

http://www.irvinehousingblog.com/2008/03/03/structured-finance-101/

http://www.irvinehousingblog.com/2008/03/04/systemic-risk-in-the-housing-market/
- posted by vcmc @  3/04/2008 04:28:00 PM