In case you missed the Michael Lewis CBS 60 Minutes interview...

Here it is. He sums up nicely what we and other economics and financial blogs have been saying for some time and also calls Wall Street Bonuses theft. Wikipedia on Michael Lewis.

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As a real estate broker

I saw this first hand. What I like about Michael Lewis is that he calls it delusional. Some of us selling real estate knew that funding these loans was insane, but we just shook our heads. The feeling was who were we to stop someone else from earning a commission. At the top both in brokerage management and organized real estate they not only looked the other way, but were against regulation of any kind. Ethics were not present. It was group think and it was massive. And maybe I should not use the past tense.

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