The Austin American-Statesman sat down with McCombs Finance Lecturer Greg Hallman to get an explanation of the Wall Street meltdown. “The only way [the bailout] is going to cost us $700 billion is if the real estate that backs these bad mortgages goes to zero. So the odds that it will really cost us whatever we spend on it are low,” Hallman said.
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1 David // Sep 30, 2008 at 3:44 pm
I thought Hallman’s explanation of how we got into this mess was one of the best I’ve read so far. Simple and clear. I’ve forwarded it to several associates on my e-mail list.
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