The problem of the crisis is the story of blind men and the elephant.
Micheal Batnik links to GMO 7 year forecast and it does not make a pretty picture.
Another thanks to Barry Ritholtz.
Thanks to Gulzar Natranjan. The quote goes thus:
John C. Coffee Jr., a professor at Columbia Law School who teaches classes on white-collar crime, said, “Typically you get more sympathy from the criminal justice system if you’re an attractive young woman than a brash, arrogant young male”... In comparison to Mr. Shkreli’s fraud, the Holmes allegations “are really a different order of magnitude,” Ms. Apps said.
Specially the Kevin Rudd speech
India Bank Fraud
Three articles from Anjan Basu on the fraud. Thanks to Gulzar Natrajan again.
Any deterioration in a sector is result of many small mis-steps. These three articles give the details of how small interventions possibly led to present predicament.