What caused the financial crisis? The Big Lie goes viral.


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By Barry Ritholtz – A Big Lie is so colossal that no one would believe that someone could have the impudence to distort the truth so infamously. There are many examples: Claims that Earth is not warming, or that evolution is not the best thesis we have for how humans developed.

Wall Street has its own version: Its Big Lie is that banks and investment houses are merely victims of the crash. You see, the entire boom and bust was caused by misguided government policies. It was not irresponsible lending or derivative or excess leverage or misguided compensation packages, but rather long-standing housing policies that were at fault. more> http://tinyurl.com/7h6p8bm

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One response to “What caused the financial crisis? The Big Lie goes viral.

  1. I don’t know enough to ‘claim’ that the Earth is not warming … I do know enough to trust the people who say that humankind is not the cause of the warming.

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