With the American financial system apparently threatened by paralysis after an era of easy credit that now seems ridiculous and venal at the same time, Wall Street may be about to endure another of its periodic brushes with public scorn and reprisal. Already we have seen the specter of failed executives being asked to explain to congressmen just why they deserved hundreds of millions of dollars for running their companies into the ground. And there are criminal investigations of mortgage lenders, some of whom are already bankrupt, for luring home buyers into taking out loans they could not hope to repay unless house prices continued to soar.[…](…) The collapse is now under way. In recent years Wall Street profits were built on leverage and on taking risks that were obscure both to regulators and even to the top managements of the banks themselves. Every three months now, we see banks disclosing huge losses from risks that they had never admitted they were taking.
Uma genealogia da crise econômica norte-americana, de forma objetiva, sem gráficos e curta. No New York Times de hoje.