• "By downloading a free program, you and your laptop could help researchers pinpoint earthquakes and even sound an early warning to surrounding areas."
  • Lewis' need to anchor his tale in personalities results in a skewed misreading of the subprime crisis and why and how it got as bad as it did. The group of short sellers he celebrates were minor-leaguers compared to the likes of Goldman Sachs, Deutsche Bank and John Paulson. But no one on the short side of these trades, large or small, should be seen as any kind of a stalwart hero and defender of capitalism. Circumstances converged to create a perfect storm of folly on the buy side, beginning with essentially fraudulent mortgage originations at ground level, which the short-sellers – whether trading at the multimillion or multibillion dollars level – took advantage of. That they walked away with large profits may be enviable, but there was nothing valiant about it. In the end, Main Street, having been desolated by a mortgage-driven housing bust, now found itself the buyer of last resort of Wall Street's garbage.
    (tags: economics)