The Wall Street Journal

Forstmann: Credit Crisis Isn’t Near the End 

There are enough housing and economy bears out there right now that being willing to suggest things aren’t half bad is grounds for excoriation in most financial media; but when one of those bears is the guy who called the S&L crisis of the 1980s, it’s worth noting. Ted Forstmann, whose scathing editorial in the Wall Street Journal twenty years ago warned things would end badly for the S&L industry, is at it again: but this time, he’s worried things could be much worse.