A Short History of the Credit Boom & Bust
Run don't walk to read the WSJ page one article on How Credit Got So Easy And Why It's Tightening.
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Kudos to Jon and Hilsenrath, and Greg Ip, who has on occasion been on the receiving end of TBP criticism.
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WSJ: Cheap Money Extends Credit and Risk Expands to Match Charts
click for public WSJ
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Source:
How Credit Got So Easy And Why It's Tightening
GREG IP and JON E. HILSENRATH
WSJ, August 7, 2007; Page A1
http://online.wsj.com/article/SB118643226865289581.html
Tuesday, August 07, 2007 | 01:00 PM | Permalink
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Comments
Excellent - glad to see you posted the article as it's as nice a survey as is around. Lahart's AofTape column on the Wiley Coyote syndrome is well worth a read as well. Particularly grateful for the charts which put a lot of the total picture in a few pictures.
The one thing not covered is the corporate side of things, i.e. the scope & scale of buybacks which have re-leveraged balance sheets thru borrowings. We may be as exposed there as elsewhere plus with a downturn coming corporations have put themselves in a very vulnerable position.
Posted by: dblwyo | Aug 7, 2007 1:07:11 PM
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