The times are too difficult and the crisis too severe to indulge in schadenfreude. Looking at it in perspective, the fact that there would be a financial crisis was perfectly predictable: its general nature, if not its magnitude. Markets are always inefficient.
Noam ChomskyTags: capitalism george-w-bush socialism free-market economic-stimulus-act-of-2008 financial-crisis-of-2007-2010 schadenfreude
The relationship between the people and their money in California is such that you can pluck almost any city at random and enter a crisis. San Jose has the highest per capita income of any city in the United States, after New York. It has the highest credit rating of any city in California with a population over 250,000. It is one of the few cities in America with a triple-A rating from Moody’s and Standard
Michael LewisTags: california financial-crisis-of-2007-2010 ratings
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