Cutting through the hysteria and the intellectual dishonesty over the sub prime fallout

....from the Usual Suspect/Economic Illiterates, as evidenced in many forms of the national media and blahgosphere, as well as the local scene, at places like Cone's on a semi-regular basis.

Max Borders at Red Clay Citizen reviews what he calls an intellectually honest, well-researched and thorough post mortem."

Noteworthy:

"The authors ask reasonable questions about the "optimum" level of foreclosure, and caution us not to forget the types of speculative investments that count among the foreclosures.In short, this is a rich complicated account written by talented economists. But it's a breath of fresh air compared to what you read in the papers."

Amen.