Ron Paul Proven Right Again
Submitted by frankmcs on Wed, 01/26/2011 - 09:50http://www.msnbc.msn.com/id/41268569/ns/business-the_new_yor...
Financial crisis was 'avoidable,' inquiry finds
WASHINGTON — The 2008 financial crisis was an “avoidable” disaster caused by widespread failures in government regulation, corporate mismanagement and heedless risk-taking by Wall Street, according to the conclusions of a federal inquiry.
The commission that investigated the crisis casts a wide net of blame, faulting two administrations, the Federal Reserve and other regulators for permitting a calamitous concoction: shoddy mortgage lending, the excessive packaging and sale of loans to investors and risky bets on securities backed by the loans...
»
- Login to post comments
So
in general they just said "it's everyone's fault" so we need more regulations. At least they included the Fed whom without their easy money, none of this could have happened at all. This pretty much is just more sweeping under the rug. The conditions created by the Fed were like dropping a car off a mountain and then blaming the driver for crashing into things and saying we needed more signs and police officers to help him guide it down the mountain.
"Endless money forms the sinews of war." - Cicero, www.freedomshift.blogspot.com
Where did the
"money" come from?