Financial crises: How we got here


A couple of interesting stories on the financial crises. The Washington Post’s Jill Drew writes a solid piece explaining how players in the financial system spread the risk from subprime mortgages through the economy. A bit light on the role played by Fannie Mae and Freddie Mac (which get attention only in the accompanying interactive graphic). The article itself is probably a bit long to read online, but worth the effort.

And via Glenn Reynolds, an interesting history lesson from Michael Barone on unions, Taylorism, and the Wagner Act. The comments are worth reading too, with some coming from folks with lots of firsthand experience (and a different take than Barone’s) on United Auto Workers.

Always interested in the background