Wednesday, July 13, 2011
'Blaming Fannie for Crash Gives Banks Free Pass'
The recently published 'Reckless Endangerment' has re-stoked the old argument about the 2008 financial crisis: Was it the fault of government or the fault of the private sector? Of course it was caused by a combination of both. But some conservatives, desperate to confirm their preconceived notions on how the world works, are seizing on 'Reckless Endangerment' as proof the crisis was primarily the result of government policies. William D. Cohan -- whose post-meltdown book 'House of Cards' should be mandatory reading for those interested in the subject -- begs to differ. ... It's always amazed me how people who saw Wall Street collapse with their own eyes can't bring themselves to acknowledge that Wall Street had something major to do with its own collapse. ... With that said, I'm looking forward to reading 'Reckless Endangerment,' for government did play a huge role in setting the stage for the dramatic events of 2008.
The recently published 'Reckless Endangerment' has re-stoked the old argument about the 2008 financial crisis: Was it the fault of government or the fault of the private sector? Of course it was caused by a combination of both. But some conservatives, desperate to confirm their preconceived notions on how the world works, are seizing on 'Reckless Endangerment' as proof the crisis was primarily the result of government policies. William D. Cohan -- whose post-meltdown book 'House of Cards' should be mandatory reading for those interested in the subject -- begs to differ. ... It's always amazed me how people who saw Wall Street collapse with their own eyes can't bring themselves to acknowledge that Wall Street had something major to do with its own collapse. ... With that said, I'm looking forward to reading 'Reckless Endangerment,' for government did play a huge role in setting the stage for the dramatic events of 2008.
