Subprime Meltdown Understatement of the Day

Here’s Jack Malvey, the chief global fixed income strategist for Lehman Brothers, commenting on the subprime mortgage market meltdown, as quoted in a New York Times piece titled The Loan Comes Due.

“The magnitude of risk was significantly underappreciated.”

Ya think?  Brilliant, just brilliant.

Posted by on 08/09 at 04:58 AM

Name:

Email:

Location:

URL:

Smileys

Remember my personal information

Notify me of follow-up comments?

Submit the word you see below:


Next entry: Hillary "Der Rodham" Clinton and the New Amerikan Komsomol

Previous entry: That's Brutal, Dude

<< Back to main