The credit crunch in plain English

Posted: December 26, 2008 in miscellany

Wall Street Lays Another Egg: Politics & Power:

If, like me, you want to try and understand what’s going wrong with the financial markets but are confused by credit default swaps and your eyes glaze over at the mention of securitised debt obligations, then I heartily recommend this piece by British historian in Vanity Fair. Extraordinary events explained in plain English. 

For more of Ferguson’s erudite work, visit his site:

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