How New Zealand Tipped The Waiter
Whenever financial markets unravel, everybody wants to ID the catalyst. This is what caused the market to crash, or that is the reason why the markets is stinky. Sorry to report — markets don’t crash on a single piece of news. Don’t believe for a second that New Zealand is the reason why the world is fleeing from U.S. mortgage-backed securities like cats from the Westminster Kennel Club. And yet, that’s what some pundits went on record with last Thursday…
Original post by Dan Green