Examining the big lie: How the facts of the economic crisis stack up | The Big Picture
You may have heard people blame the economic crash of 2008 on government policies that "forced" banks to give mortgage loans to low-income people who couldn't afford to make the payments. New York Mayor Bloomberg said it a couple of weeks ago. This is a "big lie," as Barry Ritholtz, author of Bailout Nation, explains once and for all, in this long and devastating piece.
1 comment:
Indeed. Sadly, it was even embraced by a minority of the Financial Crisis Inquiry Commission:
http://deflationwatch.wordpress.com/2011/01/28/financial-crisis-inquiry-commission-dissenter-wallisons-dubious-theory-of-root-of-financial-collapse/
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