Un peu à la Richard Hétu (de coller des citations pour exprimer son propre opinion), je vous fais part du commentaire de mon collégue Georges Jonas du National Post au sujet de la crise :
The late Andy Sarlos, a skilled and periodically successful player in world markets, who expected bubbles to burst long before they formed, wrote in his 1993 book Fireworks that “any company you invest in should owe less than it’s worth.” Sage advice, but not easy to follow in an economy where a government first inflates a bubble by promoting “affordable housing” — i.e., home ownership for people who can’t afford it — through both lending regulations and enterprises such as Fannie Mae and Freddie Mac — then, after the bubble bursts, aggravates its impact by mandating so-called “fair value” or “mark-to-market” accounting principles that require financial institutions to knock down the book value of the very subprime securities the government fostered in the first place.Faillite des marchés ou blâme sur les marchés?
