Friday, October 3, 2008

Who is to blame for the mortgage crisis? (part 2)

My partner recently told me, "you can't model the costs of a washing machine factory without understanding how washing machines get made.  Stop looking at the data from the client and demand a tour of the factory."  Sometimes you can't just look at data and concepts; you have to see, touch, and taste the issue to really grasp it.


While abstractions are powerful, sometimes concreteness is the best enabler of building a transcendant vision.  This NPR program offers a concrete and fascinating summary of the problems in the US mortgage market.  It's worth the time investment.


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Friday, October 3, 2008