Two Who Saw It Coming
Edward M. Gramlich - Former Federal Reserve Governor, Professor Emeritus of Economics (University of Michigan) (http://www.lsa.umich.edu/UofM/Content/lsa/image/peopleimage/e_gramlich.jpg)
Edward M. Gramlich with a foreword by Robert D. Reischauer (2007). Subprime Mortgages: America’s Latest Boom and Bust. (Washington, DC: Urban Institute Press, 120 p.). Former Federal Reserve Governor. Mortgage loans--United States; Real estate finance. How subprime market (loans at low interest rates, for little or no money down to low-income people pursuing American dream of homeownership) emerged, why it is in crisis, how to reform public policy to avert disaster.
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Nouriel Roubini (Professor of Economics and International Business, Stern School of Business, New York University) (http://pages.stern.nyu.edu/~nroubini/nouriel-roubini.gif);
February 5, 2008 - author of "The Rising Risk of a Systemic Financial Meltdown: The Twelve Steps to Financial Disaster"
(http://media.rgemonitor.com/papers/0/12_steps_NR).
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