Wall Street Journal: Hope Fades for PS3 as a Comeback Player

[TheBigFatJ]

Viper1 said:

Ajax said:
analists and experts

they talk bullshit most of the time anyway
look at the financial crisis
how come all those super experts didn't see that one coming

A lot of them, not all, have been saying the economy was spiraling out of control for years.

 

 

And most of them have been saying the housing bubble would eventually burst, as everyone really knew.  The issue this time is that there were credit swaps occurring where hedged positions were too deep (there'd be several hedges in a row for the same money).  There were a lot of assumptions made: that housing values wouldn't drop dramatically over the next few years (which they have), that Fannie and Freddie would have enough money to cover any kind of drop, etc.

There wasn't enough awareness about what was happening and, as a result, there was insufficient impetus to stop it.