My only wish from the fantastic article was that Lewis outlined what happened to Eisman - how did he fair? He said he was "net short" which implies some long exposure, but what was the outcome?
'The End' <object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/MI24HgwK4m0&hl=en&fs=1"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/MI24HgwK4m0&hl=en&fs=1" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="425" height="344"></embed></object>
And yet Greenspan had the balls to sit in front of Congress last month and tell us all that he had assumed that . . . 1. Real Estate markets were LOCAL markets and would never effect the National Economy. and 2. Financial institutions would always seek to protect their equity. Does he really expect us to "buy" all that??? Unbelievable!