Saturday, June 06, 2009

Why economics aren't rational

Here's an interesting article from a NYTimes economics reporter who got caught up in the sub-prime meltdown. And, boy, does he meltdown. He doesn't ask for pity, but he is trying to figure out how he, Someone Who Should Have Known Better, got suckered.


2 comments:

Rachael said...

All I can say is "wow." Really makes you sit up and evaluate your own situation. I am so glad we are not in that kind of debt.

katze said...

I read that article a little bit ago, and I have to say I felt NO sympathy for these jackholes. He knew what they were doing was shady, but he just kept at it. I don't know, maybe I'm just a terrible person lacking in empathy, but it just rankles to see this kind of irresponsible behavior.