There are two articles in today's New York Times business section that are real estate related and worth a read.
The first is a first-hand account by a WaMu mortgage underwriter of the pressures she was under to approve loans, no matter what.
If you still wonder how all these bad loans could have been made, read on, Was There a Loan It Didn't Like?
And Robert Schiller holds forth on the traps and limitations of GroupThink and how it contributed to ignoring the signs of the emerging real estate bubble.
Challenging the Crowd in Whispers, Not Shouts
Enjoy!
