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Book Review: The Subprime Virus: Reckless Credit, Regulatory Failure, And Next Steps, David J. Reiss
Book Review: The Subprime Virus: Reckless Credit, Regulatory Failure, And Next Steps, David J. Reiss
David J Reiss
John Godfrey Saxe’s 19th century poem, “The Blind Men and the Elephant,” opens with six learned men
Who went to see the Elephant
(Though all of them were blind),
That each by observation
Might satisfy his mind.
The financial crisis is the Elephant of our time. Over the last couple of years, more than six wise men and women have written books purporting to explain the financial crisis and many more such books are surely in the works. Most of these wise ones suffer from the same limitations as the poem’s learned men. As each reaches out, he or she …