I think every man and his dog learned the word subprime recently. I don’t know much about banking and finance, but Stephen Cecchetti, a former director of research at the Federal Reserve Bank of New York, knows what he’s talking about and explains the subprime crisis in (almost) layman’s terms in a clearly written post on the VoxEU blog.

August 27, 2007, by aaron. Permalink. Comments RSS.
Posted in Finance.