There's been a lot on this board about the credit & mortgage crisis, how we got there, where we're going, and the roles of all involved, especially the investment banks (where, incidentally, many of us work).
I think everyone should take a few minutes and read this speech that was given by David Einhorn at the latest Grant's Investment Conference. For everyone who knows about David Einhorn and Jim Grant, I don't need to harp on it. For those who don't, I suggest a subscription to Grant's Interest Rate Observer - it will change the way you look at markets - and take a look at prior analyses of Einhorn and his Fund.
Regardless, it is a great read, whether you're well-versed in the situation or not.
