Wall Street Journal Editorial on Merton's Muh Lecture

L. Gordon Crovitz writes, "In his lecture, Mr. Merton said this crisis was not a failure like the space shuttle Challenger disaster that could be blamed on the single factor of a faulty O-ring. Instead, many factors we're just beginning to understand, sparked by the housing bubble, led to the collapse."  20 April 2009

Full story at Wall Street Journal