Frontline: The Warning

Yes, but it wasn't really the willingness of the banks to loan the money. It was the recklessness of the investment banks and their like in securitizing those loans and insuring against the securitization. The idea that one could write what amounted to an insurance policy without having the means to pay a claim is hard to fathom -- and that the government allowed that thing to go on is derliction of duty.
And I agree with Stoney on Greenspan.
As I said, the "Matt Millen of the economy."
I'm a freemarket capitalist, but I want people to have an easier time selling legitimate goods and services, not made-up gambling devices whose downside is to wreck entire countries.

 

If you guys have a chance pick up Bailout Nation by Barry Ritholtz. The book is probably the most in-depth piece I've read about the causes of the financial collapse.

 

No worries.
I'm sure Andrea Mitchell and NBC will provide the real story.

 

Problem with the free market is that I'm not free to throw a fraudster into a wood chipper Fargo-style.