The housing debacle in 15 wordsby Tim Manni
The cause of the housing market meltdown — so pithy it would fit in a Tweet with room to spare:
1) Lending institutions made reckless loans.
2) Careless and/or greedy (most likely both) consumers acted irresponsibly.
(The numbering doesn’t count.)
The irony is that Mish, he of Mish’s Global Economic Trend Analysis, isn’t known for being pithy — but he’s a good read.