More on the Economy

Another excellent survey of the current economic situation from the NYT. This one gets into more of the details surrounding the derivative markets and the credit default swaps. It's not esoteric, since it's written with the goal of helping the reader understand it, but you get the sense that these financial instruments are still not well understood. I disagreed with the last sentence of the article, though. Just because it's too complicated to understand in 10-15 minutes doesn't mean it's a useless product.