Economy Diagnosed With 'Securititis'

The economy is like a human body afflicted by a virus (not, mind you, a bacterial infection), writes Slatin Report contributor Jeffrey Lacilla, who has dubbed the peculiar affliction, “Securititis.”

Aside from the rampant overuse of the medical metaphor — ” you cannot fight off a systemic viral housing infection with narrowly focused regulatory antibiotics” — Mr. Lacilla, managing director of a private real estate investment company and an New York University real estate professor, offers an easily digestible description of how speculation run amok led to the current economic meltdown.

Mr. Lacilla lists the 12 most commonly cited causes for the crisis, from “easy lending standards and practices” to “real estate speculators,” but aptly points out that they all stem from one very human frailty: greed.

Read more of Mr. Lacilla’s diagnosis here.

 

Economy Diagnosed With 'Securititis'