One poisoned water bottle: Paul O’Neill explains the subprime mortgage crisis

by D. C. Toedt on March 28, 2008

From the March 30 NY Times Magazine’s interview with Paul O’Neill, former secretary of the Treasury:

[NYT:] It’s so hard to understand how the subprime mortgage crisis has triggered a financial crisis of global proportions. [Paul O'Neill:] If you have 10 bottles of water, and one bottle had poison in it, and you didn’t know which one, you probably wouldn’t drink out of any of the 10 bottles; that’s basically what we’ve got there.

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