Tuesday, February 3, 2009

Patient Zero is to blame

Finally we can blame someone for this economic tsunami. Time.com has this post

The global recession has a "patient zero", a single person who set off the series of events which may lead the economy into its greatest downturn since The Great Depression and, by some estimates, push 50 million people around the world out of jobs this year, according to The International Labour Organisation.

"Patient zero" bought a house in Stockton, California, in 2003 after getting a sub prime mortgage. He defaulted on that mortgage 39 months later.