One poisoned water bottle: Paul O’Neill explains the subprime mortgage crisis

March 28, 2008

From the March 30 NY Times Magazine’s interview with Paul O’Neill, former secretary of the Treasury:

[NYT:] It’s so hard to understand how the subprime mortgage crisis has triggered a financial crisis of global proportions. [Paul O'Neill:] If you have 10 bottles of water, and one bottle had poison in it, and you didn’t know which one, you probably wouldn’t drink out of any of the 10 bottles; that’s basically what we’ve got there.

Posted by DCT | Filed Under Finances 

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