An Explanation So Clear Even A Maestro Could Follow It

Fri, 19 Mar 2010 14:30:12 +0000

This ten point explanation from Barry Ritholtz lays out the contribution of ultra-low interest rates to the financial crisis.  Shorter version: low interest rates plus ratings agencies for sale equals enormous debacle.  To his tenth point on the lax regulatory environment emanating, in his words, from the Fed, I would add the abject failure of the SEC to hold the line on investment bank leverage ratios.  This report should have had a bigger impact than it did.