WHEN IS A DEPRESSION NOT EVEN A RECESSION?:

Key Index May Overstate Mortgage-Debt Problems ( JOELLEN PERRY, September 1, 2008, Wall Street Journal)

The prices of a key index that banks use to gauge their subprime-related losses have been damped partly by factors that have little to do with the risk that borrowers could default on mortgages, according to a Bank for International Settlements report that could add to growing concern about how markets measure the severity of mortgage-debt problems.

When a Bush is in office.

Posted by Orrin Judd at September 1, 2008 11:05 AM