Plenty of blame to go around including high risk lending, regulatory failures, inflated credit ratings, and investment bank abuses.
2-22-2012: Bloomberg objects to blaming the US Government housing policies as the “major” cause of mortgage crisis. The greatest blame apparently goes to wall street. Source: http://www.cjr.org/the_audit/bloomberg_takes_on_the_big_lie.php
The recent US Senate report on what caused the financial system meltdown has arrived and there is plenty of blame to go around. My main question:
The official title of the US Senate Investigative Committee Report is
WALL STREET AND THE FINANCIAL CRISIS: Anatomy of a Financial Collapse
MAJORITY AND MINORITY STAFF REPORT – PERMANENT SUBCOMMITTEE ON INVESTIGATIONS
Get it here:
http://www.levin.senate.gov/imo/media/doc/supporting/2011/PSI_WallStreetCrisis_041311.pdf
Note: Once you read this 650 page report, dive into Atlas Shrugged by Ayn Rand – that’s a good read too.
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