Crisis of Credit
It explains the current situation in a simple graphical way. Definitely worth the time.
The possible causes that are discussed in the FD blog include:
- Greedy investors that demanded better returns.
- Bleeding heart liberal politicians that demanded that everyone be given a loan for a home.
- Excessive American citizen's that "needed" that "beyond their means" dream home or just a home.
- Unethical business people that wanted to get rich by any means possible.
- Incompetent or self serving regulators.
I vote that we all played a role in this. Take a look and judge for yourself... Then ponder, how do we keep it from happening again, if we get this fixed this time?
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