My post Tuesday on the evils of teaser-rate mortgages engendered a lot of comment. This probably had less to do with the actual content of the post than with the fact that it was linked to on the CNNMoney home page, but whatever. It’s a topic folks are interested in these days, for good reason. [...]
In his Maverecon blog, London School of Economics prof Willem Buiter, whose interesting ideas about what central banks should do in times like these have been getting a lot of attention lately, offers an explanation of why financial markets do that voodoo that they do. They’re manic-depressive–or, to use what Buiter calls a “wimpish medical [...]
