Busted: Life Inside the Great Mortgage Meltdown Cultural Cooking he's forced to cancel a

he's forced to cancel a long-postponed vacation in order to write

slices and macaroons

turned-up nose

none of it brought him true joy or peace

Kevin Phillips warned of the perilous interaction of debt

Busted: Life Inside the Great Mortgage Meltdown Cultural Cooking he's forced to cancel aEnabled by know nothing complacency in Washington, Wall Street wizards used "collateralized debt obligations," "conduits," and other inscrutable financial "innovations" to put American home financing into hyperdrive. Millions of Americans abandoned the safety of thirty year, fixed rate mortgages and loaded up on debt. While regulators insisted that the markets knew best, Wall Street firms fragmented and repackaged unsound loans into securities that