The 40 Best Books on Social Investing Compiled by Frank Hung, Jui-Kai Li, Interns. Winter, 2010. An updated listing of some of the best books on socially responsible investing.
Showing posts from February, 2010
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We attended today's Financial Crisis Inquiry Commission (FCIC) hearing earlier today. The Commission brought "experts who have researched the financial crisis for a forum in Washington, DC on February 26-27, 2010 at American University Washington College of Law." More smoke than light was shed on the cause of the crisis. I was struck, however, by one comparison made. In the last session on Shadow Banking, Gary Gorton, Professor of Finance, School of Management, Yale University, compared subprime borrowers to e-coli, suggesting they had "infected" the home loan market. According to Wikipedia, "Between 2004-2006 the share of subprime mortgages relative to total originations ranged from 18%-21%, versus less than 10% in 2001-2003 and during 2007. The value of USA subprime mortgages was estimated at $1.3 trillion as of March 2007,  with over 7.5 million first-lien subprime mortgages outstanding." That's a lot of e-coli, too much for this analogy