Musings —02.05.2012 01:00 AM—
It couldn’t have been a very good political fundraiser: None of us can now recall who was speaking. Most likely, it was a Conservative — because we were exiled to the furthest corner in the room, with some of the other Liberals in attendance.
While the speaker wasn’t at all memorable, the pleasant woman at our table was. She was employed by a mortgage broker association. Asked what was new in her field of work, she said: “Subprime mortgages. We’re quite worried about them. If things unfold the way we think they might, it could be very, very bad.”
How bad? she was asked.
“They could cause a new recession, we think,” she said.