Sunday, February 08, 2009

Crisis Blame

Last month I tangentially mentioned that
"the mortgage-liquidity crisis is a result of insufficient government oversight. To the contrary, the crisis was primarily a result of government meddling in what should have been normal market forces, although the blame is not quite that simple."
This bit of truthful history is being increasingly reported. I wonder if the trend will continue?

In related news, an interesting article about unionism and the Big Three that attempts to set the record straight but notably lacks analysis of any solution to the typically adversarial union stance.

UPDATE: Interesting to see how this advice from last September is or is not happening.

UPDATE: A silly cartoon. More about Christopher Dodd. And examples of why liquidity can be a problem when loans go bad.

UPDATE: Two more: a blog post from the Neo-Neocon discusses this article.

UPDATE: Less polite versions here and here.

UPDATE: A quite polite and detailed version here.

UPDATE: Even more here. Also from Bob Krumm, "Proving Regan Wrong"

UPDATE: Was it Greenspan?

UPDATE: Brian Saint-Paul adds details.

UPDATE: More Dodd, regarding the "bonus" fiasco.

UPDATE: Alan Reynolds notes that the global recession did not start in America.

UPDATE: Desmond Lachman writes, at the end of March, about Goldman Sachs playing a role as significant as Congressmen hiding the lack of health in Freddie Mac and Fannie Mae.

No comments: