Sub-prime contagion

posted by
August 11, 2011
The Nation
by Christopher Hayes  
Posted in Commentary, PND Commentary

"I moved to Washington in July 2007, at a time when what was then quaintly referred to as the 'sub-prime crisis' was starting to cause some consternation on Wall Street and Capitol Hill. ... One of the first stories I wrote for The Nation from DC was a dispatch from a Joint Economic Committee hearing, at which Federal Reserve chair Ben Bernanke sought to calm the nerves of lawmakers made anxious by the cascade of worrying headlines. Bernanke acknowledged that some of the trends in the sub-prime market were worrying, but he said that the problems were, at least for the moment, contained." (08/10/11)  

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