In Britain, given the size of its finance industry, housing boom and consumer debt, the balance-sheet adjustment will, if anything, be greater.

ECONOMIST: The world economy

In this column, Federal Reserve Bank of Boston economist Daniel Cooper presents new evidence suggesting that the spending impact of equity extraction during the recent U.S. housing boom was relatively small compared with the household balance sheet changes and residential investment.

FORBES: Home Equity Extraction: Where Did All The Money Go?

It all sounds suspiciously like the subprime mortgage boom, when banks parked illiquid assets in off-balance-sheet vehicles.

ECONOMIST: Exchange-traded funds

Lanni is going ahead with CityCenter at a time when the Vegas condo boom can't get any frothier and MGM Mirage's balance sheet can't get much thinner.

FORBES: Magazine Article