60 Minutes Discovers Subprime

By Paul Kedrosky · January 27, 2008 · ·

This week’s 60 Minutes has discovered the subprime problem. While we’ve all heard it before, 60 Minutes does know how to get its point across. Watch it.

60minutes-subprime

Related posts:

  1. Hedge Funds: We Have a Ten-Bagger Subprime Winner
  2. Best Subprime Quote du Jour
  3. Subprime Ate My Homework
  4. Morgan to Merrill: Subprime Losses? Me Too :-) !
  5. Dave Barry on Subprime and the Economy

Comments

  1. C. Maoxian says:
    January 27, 2008 at 11:55 pm

    Marking the bottom? (he asks hopefully)

  2. moishe says:
    January 28, 2008 at 8:23 am

    my favorite part of this piece was the couple who bought the little rancher and we’re complaining that the homes value had gone down and that they shouldn’t have to pay the mortgage if the value declines, they should only pay if it increases. this type of attitude which i fear is pretty widespread gives credence to the “moral hazard” concept argument that these people shouldn’t be bailed out. alternatively more hazard or not it’s not in the interest of this countries economy to have mass amounts of homes in foreclosure. Maybe a price decline hedging product makes sense, i know there is one which was being tested in Syracuse NY, don’t know what ever came of it, it was like title insurance but insures against price declines. /moishe mortyandmoishe.blogspot.com

  3. Mike B says:
    January 28, 2008 at 10:15 am

    Can you say “late to the party”? Nice journalism 60 minutes.

  4. Mike says:
    January 28, 2008 at 10:20 am

    I blogged about how late 60 minutes is on this story over at Plunge Protection Team:
    http://www.plungeprotectionteam.com/2008/1/28/quot-60-minutes-quot-three-years-too-late-with-quot-hard-hitting-quot-investigative-journalism