March 17th, 2010

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Why hasn't our financial system recollapsed?

The number of credit card defaults and foreclosures continues, compounded on the commercial side. Why is this sustainable?

Some of the answer is, it's not. The fed has taken over a record number of failing banks. In other cases, revenues from certain sorts of financial speculation offset defaults. But, as in 2006-07, I keep having this nagging feeling that the numbers just don't add up.