Good Layman's guide to the financial crisis

[J Wolfsberger]

Haven't agreed w/Schmedlap much lately, but I agree on this one. Short sellers did not cost me my job - Richard Fuld and his subordinates did that.

...

Who's worse, a hedge fund manager shorting Lehman in the wake of massive losses, or the house flipper and mortgage broker doing all they can to inflate asset prices beyond all expectations? Who is more to blame for the current crisis?

And I rarely agree with Tequila, but on this one I agree. To the first, yep, Richard Fuld did do that through greed and stupidity. (Which is redundant, I know. )

To the second, both. And the market should punish both.