Money Spirals

Tim Geithner’s explanation of the financial crisis and the plan—grimly called TARP II, as if the first one (which is flimsy-sounding enough) blew off when all the money got blasted away in a funnel-cloud—is less patronizing than those I’ve railed against in the past. And it’s discomfiting:

The Brits Explain the Subprime Mortgage Crisis

John Bird and John Fortune: incisive, weak-chinned and devastating: