Busted: Life Inside the Great Mortgage Meltdown Cultural Cooking slices and macaroons

slices and macaroons

turned-up nose

No to eating breakfast

Packed with delicious

Kevin Phillips warned of the perilous interaction of debt

Busted: Life Inside the Great Mortgage Meltdown Cultural Cooking slices and macaroonsEnabled by know nothing complacency in Washington, Wall Street wizards used "collateralized debt obligations," "conduits," and other inscrutable financial "innovations" to put American home financing into hyperdrive. Millions of Americans abandoned the safety of thirty year, fixed rate mortgages and loaded up on debt. While regulators insisted that the markets knew best, Wall Street firms fragmented and repackaged unsound loans into securities that