I got the chance to sit down with Gretchen Morgenson, the assistant business editor of the New York Times, while she visited Washington and Lee University.
To Morgenson, miscommunication between borrowers and lenders lies at the heart of the current financial crisis. The Pulitzer Prize winning journalist, who began writing about the mortgage meltdown in early 2007, told me she knew irresponsible lending would lead to a crisis.
But she had no idea how bad it would be.
Now, in the aftermath of lending-gone-wrong, Morgenson says the biggest problem that faces the economy is resolving companies too big to fail.
“This is the crucial, central problem that our leaders in government have not yet dealt with,” she said.
