Home > American Racket. Debt Deregulation, Bubbles, Bailouts and GoldplatedLies > Govt. Policy Caused Financial Meltdown? Inside Wall Streets Big Lie

Govt. Policy Caused Financial Meltdown? Inside Wall Streets Big Lie

Remember “Real eyes realize real lies”

The galvanizing success of the Occupy movement has caused a lot of American’s to take a closer look at Wall St./corporate greed. In response those that tanked our economy are trying to shift the blame. The cry from Wall St and their servants in corporate media has become it was government policies that caused the financial mess not their corrupt practices.  Today we take a look at this story with a report from The Washington Post and an interview from Russian TV.

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

by Barry Ritholtz

” One group has been especially vocal about shaping a new narrative of the credit crisis and economic collapse: those whose bad judgment and failed philosophy helped cause the crisis.

………………………………………………………………………………………………………..

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.

Indeed, the arguments these folks make fail to withstand even casual scrutiny. But that has not stopped people who should know better from repeating them.”

To read the entire post click here.

 

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