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Krugman: A Crisis of FaithQuicklink Submitted By Sheila Samples No comments
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| Auction-rate securities seemed as good as cash because they involve regular, well, auctions, held as often as once a week, in which investors wanting out sell their positions to investors wanting in. In principle, it was always possible for auctions to fail for lack of enough willing buyers ? but that wasn?t ever supposed to happen. And the financial contagion is still spreading. What market is next? |
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Sheila Samples is an Oklahoma writer and a former civilian US Army Public Information Officer. She is a Managing Editor for OpEd News, and a regular contributor for a variety of Internet sites.
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