1. Wall Street vs Main Street

Question Title

* 1. The Financial Sector's "Moral Hazards" team is outstanding. They froze credit markets (except for themselves - the twerps got TARPs) and forced us to Google securitization and credit default swaps. You do need a scorecard to tell the players: AIG, Bear Stearns, Lehman Brothers, JPMorgan Chase, Bank of America, Merrill Lynch. Can you say "risk management"?

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In pre-season rankings the "Foreclosures" were a favorite to win it all. The real estate market, "egged on" by ill-advised public policies that encouraged and subsidized home ownership (think subprime mortgages, zero down payments, low interest rates, and tax breaks), provided incentives and arbitrage opportunities for folks to buy and/or flip large houses.

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