Heather Keith Freeman (jnanacandra) wrote,
Heather Keith Freeman
jnanacandra

  • Mood:

more on the mortgage mess

Another illuminating take on the mortgage mess, and helps explain why so many people in the banking industry failed to see this coming; it boils down to the Usual Error - the idea that people assume that others work the same way they do, and have access to the same knowledge. What is a good idea from an economist's point of view is terrible for an average homeowner.

I would expound, but Aiden was using us as parallel bars last night and I'm kinda staring through things.
Tags: economics, linkage, psychology, sociology
Subscribe

  • crankiness

    Words of wisdom from catvalente: I wish people understood that crankiness is actually one of the cardinal virtues. When you're cranky,…

  • Too good not to repost

    And this is why you should be reading metaquotes: "It's going to be a good year, I can tell. I think 2009 will be the seventh season…

  • Quote for the day

    "Science is a cold-hearted bitch with a 14-inch strap-on." - Dexter

  • Post a new comment

    Error

    default userpic

    Your reply will be screened

    Your IP address will be recorded 

    When you submit the form an invisible reCAPTCHA check will be performed.
    You must follow the Privacy Policy and Google Terms of use.
  • 2 comments