I enjoy reading economic thrillers like Charles Mackay's Extraordinary Popular Delusions and the Madness of Crowds and John Kenneth Galbraith's A Short History of Financial Euphoria. I don't claim to be immune from the madness of financial bubbles and panics. I take solace in knowing that an intellectual hero of mine, Issac Newton was caught up in the South Seas Bubble (see Newton quote). I believe everybody should get a good belly laugh out of their own foibles...
The following is for the less literate, i.e. those who like their info via a direct video injection instead of the more labour intensive exercise of reading text. It is an interview with Roddy Boyd who wrote the Fortune magazine's article "How Lehman Lost Its Way". This snippet covers Lehman's investment in the McAllister Ranch housing development -- now ghost town -- outside of Bakersfield California. This is now a big, 3 sq. mi. development. Sit back, relax, and enjoy a little schadenfreude:
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