Mike Masnick the prolifically talented founder and contributor over at Tech Dirt, nails it. He has a long post that reviews many of the moving parts involved with the subprime crisis up to today's market blow out.
Read it and understand why we are living in a complex world that requires complex analysis to achieve correct answers. And then thank Mike for taking the time to help unwind the knotted cord.
Exploiting Investor Attention to P/E [PREMIUM]
35 minutes ago