We'll get back to our fuller coverage on Wednesday. In the meantime, we wish you a happy and prosperous 2008...
- The Dallas Fed has published an excellent review of how investors turned complacency into crisis. The section on "slicing and dicing risk" (about halfway through the piece) is especially good.
- The Economist combines a concise review of 2007 with a look ahead to 2008--and points to credit default swaps as the next big story.
- No kidding: The L.A. Times on defaults moving beyond subprime.
- Shiller: "This is a much bigger issue than sub-prime."
- Barry Ritholtz has a preview of Doug Kass's 20 potential surprises for 2008.
- More cautionary notes: The FT's Tony Jackson riffs on persistent problems in the banking system (via Yves Smith).
- Over at MartketWatch, John Spence looks ahead to another year of change--and rapid growth--in the ETF marketplace.