After every great party comes a reckoning. Because they overindulged sub-prime borrowers with unprecedented excess credit, US financial markets are facing a long and severe hangover. The American dream of homeownership for all has turned sour, while cleaning up the mess will be painful. Amid the finger-pointing, dislocation and illiquidity, though, fortunes will be made. Alex Chambers reports.
Alex Chambers,
September 24, 2007