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A Brief History of Financial Crisis

John on September 24, 2008 at 10:14 pm

Consider this a video version of my earlier post on the subject. Some of the detail has been omitted but the basic story is the same:

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Please spread this post far and wide. Idiots like Frank Rich at the NY Times continue to claim this is all the fault of Phil Gramm and deregulation, but Phil Gramm is not the boogeyman here. The only deregulation that matters is the kind caused by Democrats in Congress, who rejected repeated attempts at reform and oversight by Republicans. Yes, they had good intentions, but you’ve heard about the road to hell…

[HT: Ace]

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Category: Politics |

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