> > Maybe so, but not very many people take > > Economics in school until they reach the > > college level... > > Bhairitu: > You're the one who doesn't seem understand... > Right, you blame the current economic crises on the 'banksters', but the economists blame it on politics. You need to go back to school!
"This is an account of what ails us that is radically at odds with the familiar tale of greedy bankers in $5,000 suits. 'Almost every financial crisis has political roots,' Rajan writes. The credit market—at least as regards housing—was distorted by government policy, not by a sudden and mysterious escalation in 'greed.' The trends that shook the world economy came out of Fannie Mae and Freddie Mac, out of the Federal Housing Administration, and out of their 'regulator,' the U.S. Department of Housing and Urban Development..." Read more: 'Easy Credit, Hard Landing' BY Christopher Caldwell Weekly Standard, July 26, 2010 http://tinyurl.com/33xyatk
