The US Credit Crunch
by rizal on
October 3rd, 2008
Bankruptcy of Lehman Brothers; bailout of AIG. How did this happen?
Let’s ask Warren Buffett, investment guru:
If [AIG] had never heard of the word derivatives, they’d be doing fine. They’d be going to work in the morning and they would have no troubles … I said they were possibly financial weapons of mass destruction, and they [...]
Tags: Macroeconomics . US credit crunch
