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	<title>David&#039;s Macro Blog &#187; financial collapse 2008</title>
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	<link>http://www.davidoverfield.com</link>
	<description>Analysis and commentary on business, economics, real estate, financial markets, and other fun topics</description>
	<lastBuildDate>Tue, 19 Jul 2011 00:58:07 +0000</lastBuildDate>
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		<title>C-SPAN Interview of Michael Lewis on The Big Short</title>
		<link>http://www.davidoverfield.com/998/c-span-interview-of-michael-lewis-on-the-big-short/</link>
		<comments>http://www.davidoverfield.com/998/c-span-interview-of-michael-lewis-on-the-big-short/#comments</comments>
		<pubDate>Fri, 10 Jun 2011 22:42:12 +0000</pubDate>
		<dc:creator>David Overfield</dc:creator>
				<category><![CDATA[Business and Finance]]></category>
		<category><![CDATA[AIG]]></category>
		<category><![CDATA[Ben Bernanke]]></category>
		<category><![CDATA[Credit Default Swaps]]></category>
		<category><![CDATA[financial collapse 2008]]></category>
		<category><![CDATA[financial crisis 2008]]></category>
		<category><![CDATA[Hank Paulson]]></category>
		<category><![CDATA[Michael Lewis]]></category>
		<category><![CDATA[real estate bubble]]></category>
		<category><![CDATA[Soloman Brothers]]></category>
		<category><![CDATA[sub prime loans]]></category>
		<category><![CDATA[sub prime mortgages]]></category>
		<category><![CDATA[The Big Short]]></category>
		<category><![CDATA[video]]></category>
		<category><![CDATA[Wall Street]]></category>

		<guid isPermaLink="false">http://www.davidoverfield.com/?p=998</guid>
		<description><![CDATA[When did Wall Street become the dumb money? Why did traders who lost on their bets still earn millions (sometimes tens of millions) in income? Author Micheal Lewis (Liars Poker, Moneyball, The Blind Side) explains the answers to both of these questions in his best-selling book, The Big Short. He writes so that even his [...]]]></description>
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		<slash:comments>0</slash:comments>
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		<item>
		<title>Why Lehman Failed and Filed for Bankruptcy</title>
		<link>http://www.davidoverfield.com/911/why-lehman-failed-and-filed-for-bankruptcy/</link>
		<comments>http://www.davidoverfield.com/911/why-lehman-failed-and-filed-for-bankruptcy/#comments</comments>
		<pubDate>Sat, 14 May 2011 00:04:55 +0000</pubDate>
		<dc:creator>David Overfield</dc:creator>
				<category><![CDATA[Business and Finance]]></category>
		<category><![CDATA[Economics]]></category>
		<category><![CDATA[2008 credit crunch]]></category>
		<category><![CDATA[bankruptcy]]></category>
		<category><![CDATA[Dick Fuld]]></category>
		<category><![CDATA[excessive leverage]]></category>
		<category><![CDATA[financial collapse 2008]]></category>
		<category><![CDATA[financial crisis 2008]]></category>
		<category><![CDATA[global financial crisis]]></category>
		<category><![CDATA[Lehman Brothers]]></category>
		<category><![CDATA[overnight repo market]]></category>
		<category><![CDATA[sub-prime real estate mortgages]]></category>

		<guid isPermaLink="false">http://www.davidoverfield.com/?p=911</guid>
		<description><![CDATA[During the height of the 2008 credit crunch, Lehman Brothers, led by CEO Dick Fuld, was not bailed out by the government. Instead, it was allowed to fail and become the largest bankruptcy in history. How did this 150-year old firm that survived the Civil War and the Great Depression fail? The short answer is, [...]]]></description>
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		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>2010 Year in Review</title>
		<link>http://www.davidoverfield.com/717/2010-year-in-review/</link>
		<comments>http://www.davidoverfield.com/717/2010-year-in-review/#comments</comments>
		<pubDate>Sat, 15 Jan 2011 01:44:43 +0000</pubDate>
		<dc:creator>David Overfield</dc:creator>
				<category><![CDATA[Business and Finance]]></category>
		<category><![CDATA[Economics]]></category>
		<category><![CDATA[Real Estate]]></category>
		<category><![CDATA[Reviews and Predictions]]></category>
		<category><![CDATA[bailout]]></category>
		<category><![CDATA[Ben Bernanke]]></category>
		<category><![CDATA[budget deficit]]></category>
		<category><![CDATA[commodity prices]]></category>
		<category><![CDATA[currency crisis]]></category>
		<category><![CDATA[Employment Population Ratio]]></category>
		<category><![CDATA[financial collapse 2008]]></category>
		<category><![CDATA[financial crisis 2008]]></category>
		<category><![CDATA[Flash Crash]]></category>
		<category><![CDATA[Labor Force Participation Rate]]></category>
		<category><![CDATA[predictions]]></category>
		<category><![CDATA[Quantitative Easing]]></category>
		<category><![CDATA[stock market]]></category>
		<category><![CDATA[unemployment rate]]></category>
		<category><![CDATA[Year in Review]]></category>

		<guid isPermaLink="false">http://www.davidoverfield.com/?p=717</guid>
		<description><![CDATA[It is always interesting to go back and read what I wrote last year because often I’ve forgotten! Plus it is humbling to realize how imperfectly we see the future, which looked so clear at the time. My favorite quote for 2010 is: “Prediction is very hard, especially about the future.” &#8211; Yogi Berra Let&#8217;s [...]]]></description>
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		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>The World Collapse Explained in 3 Minutes (Too Funny)</title>
		<link>http://www.davidoverfield.com/506/the-world-collapse-explained-in-3-minutes-too-funny/</link>
		<comments>http://www.davidoverfield.com/506/the-world-collapse-explained-in-3-minutes-too-funny/#comments</comments>
		<pubDate>Fri, 27 Aug 2010 22:00:14 +0000</pubDate>
		<dc:creator>David Overfield</dc:creator>
				<category><![CDATA[Business and Finance]]></category>
		<category><![CDATA[Economics]]></category>
		<category><![CDATA[boom and bust]]></category>
		<category><![CDATA[economic cycle]]></category>
		<category><![CDATA[financial collapse 2008]]></category>
		<category><![CDATA[global financial crisis]]></category>
		<category><![CDATA[video]]></category>

		<guid isPermaLink="false">http://www.davidoverfield.com/?p=506</guid>
		<description><![CDATA[British humor we can all understand. Somehow this seems to explain the situation better than CNBC. Why is that? Share and Enjoy:]]></description>
		<wfw:commentRss>http://www.davidoverfield.com/506/the-world-collapse-explained-in-3-minutes-too-funny/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Economic Recovery&#8230; Really?</title>
		<link>http://www.davidoverfield.com/498/economic-recovery-really/</link>
		<comments>http://www.davidoverfield.com/498/economic-recovery-really/#comments</comments>
		<pubDate>Fri, 20 Aug 2010 22:00:21 +0000</pubDate>
		<dc:creator>David Overfield</dc:creator>
				<category><![CDATA[Economics]]></category>
		<category><![CDATA[Bloomberg]]></category>
		<category><![CDATA[bubble economy]]></category>
		<category><![CDATA[business cycles]]></category>
		<category><![CDATA[Caroline Baum]]></category>
		<category><![CDATA[double dip recession]]></category>
		<category><![CDATA[economic cycle]]></category>
		<category><![CDATA[economic recovery]]></category>
		<category><![CDATA[financial collapse 2008]]></category>
		<category><![CDATA[stimulus]]></category>

		<guid isPermaLink="false">http://www.davidoverfield.com/?p=498</guid>
		<description><![CDATA[The belief in a recovery from the global economic collapse in 2008 has gained strength as the unemployment rate has leveled off, the stock market has recovered about 70% and real estate prices have stopped falling. However, do we really have an organically growing economy or something else? A great description of our recent economic [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Jon Stewart Explains the May 6th Flash Crash</title>
		<link>http://www.davidoverfield.com/512/jon-stewart-explains-the-may-6th-flash-crash/</link>
		<comments>http://www.davidoverfield.com/512/jon-stewart-explains-the-may-6th-flash-crash/#comments</comments>
		<pubDate>Fri, 13 Aug 2010 22:00:35 +0000</pubDate>
		<dc:creator>David Overfield</dc:creator>
				<category><![CDATA[Business and Finance]]></category>
		<category><![CDATA[Economics]]></category>
		<category><![CDATA[Algorithmic trading]]></category>
		<category><![CDATA[financial collapse 2008]]></category>
		<category><![CDATA[Flash Crash]]></category>
		<category><![CDATA[Jon Stewart]]></category>
		<category><![CDATA[market cycles]]></category>
		<category><![CDATA[program trading]]></category>
		<category><![CDATA[The Daily Show with Jon Stewart]]></category>
		<category><![CDATA[video]]></category>

		<guid isPermaLink="false">http://www.davidoverfield.com/?p=512</guid>
		<description><![CDATA[Jon Stewart, one of the most astute and insightful commentators of our time, explains the May 6th 2010 Flash Crash in this video from the Daily Show: A Nightmare on Wall Street The Daily Show With Jon Stewart Mon &#8211; Thurs 11p / 10c]]></description>
		<wfw:commentRss>http://www.davidoverfield.com/512/jon-stewart-explains-the-may-6th-flash-crash/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>The May 6th &#8220;Flash Crash&#8221; as Seen on CNBC Live &#8211; Conspiracy Theories</title>
		<link>http://www.davidoverfield.com/480/may-6th-flash-crash-cnbc-conspiracy-theories/</link>
		<comments>http://www.davidoverfield.com/480/may-6th-flash-crash-cnbc-conspiracy-theories/#comments</comments>
		<pubDate>Thu, 10 Jun 2010 20:41:46 +0000</pubDate>
		<dc:creator>David Overfield</dc:creator>
				<category><![CDATA[Business and Finance]]></category>
		<category><![CDATA[CNBC]]></category>
		<category><![CDATA[conspiracy theories]]></category>
		<category><![CDATA[Erin Burnett]]></category>
		<category><![CDATA[financial collapse 2008]]></category>
		<category><![CDATA[Flash Crash]]></category>
		<category><![CDATA[global financial crisis]]></category>
		<category><![CDATA[Jim Cramer]]></category>
		<category><![CDATA[market timing]]></category>

		<guid isPermaLink="false">http://www.davidoverfield.com/?p=480</guid>
		<description><![CDATA[On Thursday May 6th the stock market took a unexplained and terrifying plunge down 10% during the day. This highly unusual event called the &#8220;Flash Crash&#8221; can be seen in real time on CNBC as Erin Burnett is interviewing Jim Cramer on Street Signs. There are many (some conspiracy) theories as to the cause of [...]]]></description>
		<wfw:commentRss>http://www.davidoverfield.com/480/may-6th-flash-crash-cnbc-conspiracy-theories/feed/</wfw:commentRss>
		<slash:comments>2</slash:comments>
		</item>
		<item>
		<title>Did the financial world collapse in 2008 because of risk free bets?</title>
		<link>http://www.davidoverfield.com/21/did-the-financial-world-collapse-in-2008-because-of-risk-free-bets/</link>
		<comments>http://www.davidoverfield.com/21/did-the-financial-world-collapse-in-2008-because-of-risk-free-bets/#comments</comments>
		<pubDate>Fri, 03 Jul 2009 23:07:44 +0000</pubDate>
		<dc:creator>David Overfield</dc:creator>
				<category><![CDATA[Business and Finance]]></category>
		<category><![CDATA[Credit Default Swaps]]></category>
		<category><![CDATA[derivatives]]></category>
		<category><![CDATA[financial collapse 2008]]></category>
		<category><![CDATA[Khan Academy]]></category>
		<category><![CDATA[trading]]></category>
		<category><![CDATA[Wall Street]]></category>
		<category><![CDATA[Warren Buffett]]></category>

		<guid isPermaLink="false">http://www.davidoverfield.com/?p=21</guid>
		<description><![CDATA[Warren Buffett calls derivatives “financial weapons of mass destruction.”  Do you believe him? Derivatives are financial instruments whose prices are derived from underlying assets.  One example would be a futures contract between a farmer and a food processor.  In this case the underlying asset is the grain harvested by the farmer and the derivative is [...]]]></description>
		<wfw:commentRss>http://www.davidoverfield.com/21/did-the-financial-world-collapse-in-2008-because-of-risk-free-bets/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>The 2000-2007 Real Estate Boom – A House of Cards</title>
		<link>http://www.davidoverfield.com/5/the-2000-2007-real-estate-boom-%e2%80%93-a-house-of-cards/</link>
		<comments>http://www.davidoverfield.com/5/the-2000-2007-real-estate-boom-%e2%80%93-a-house-of-cards/#comments</comments>
		<pubDate>Sun, 17 May 2009 04:20:00 +0000</pubDate>
		<dc:creator>David Overfield</dc:creator>
				<category><![CDATA[Business and Finance]]></category>
		<category><![CDATA[Real Estate]]></category>
		<category><![CDATA[banking]]></category>
		<category><![CDATA[boom and bust]]></category>
		<category><![CDATA[cycles]]></category>
		<category><![CDATA[financial collapse 2008]]></category>
		<category><![CDATA[financial models]]></category>
		<category><![CDATA[house of cards]]></category>
		<category><![CDATA[mortgage backed securities]]></category>
		<category><![CDATA[real estate bubble]]></category>
		<category><![CDATA[recession]]></category>
		<category><![CDATA[Wall Street]]></category>

		<guid isPermaLink="false"></guid>
		<description><![CDATA[Was the great real estate bubble of 2000 – 2007 preventable? Who won and who lost? Why weren’t the inevitable crash and current historic recession preventable or predictable by the best the brightest among us? The following video from CNBC&#8217;s &#8220;House of Cards&#8221; (ht – Alan Sun) contains interviews with people in all parts of [...]]]></description>
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		<slash:comments>2</slash:comments>
		</item>
		<item>
		<title>Credit derivative explanation we can all understand</title>
		<link>http://www.davidoverfield.com/6/credit-derivative-explanation-we-can-all-understand/</link>
		<comments>http://www.davidoverfield.com/6/credit-derivative-explanation-we-can-all-understand/#comments</comments>
		<pubDate>Mon, 20 Apr 2009 20:49:00 +0000</pubDate>
		<dc:creator>David Overfield</dc:creator>
				<category><![CDATA[Business and Finance]]></category>
		<category><![CDATA[banking]]></category>
		<category><![CDATA[boom and bust]]></category>
		<category><![CDATA[credit derivatives]]></category>
		<category><![CDATA[financial collapse 2008]]></category>

		<guid isPermaLink="false"></guid>
		<description><![CDATA[Someone wrote a good summary of credit derivatives. (Hat tip Eric Overfield for pointing this out) At last, what we&#8217;ve all been waiting for, an understandable explanation of derivative markets. Heidi is the proprietor of a bar in Detroit. In order to increase sales, she decides to allow her loyal customers &#8211; most of whom [...]]]></description>
		<wfw:commentRss>http://www.davidoverfield.com/6/credit-derivative-explanation-we-can-all-understand/feed/</wfw:commentRss>
		<slash:comments>1</slash:comments>
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