The quasi-governmental institutions Fannie Mae and Freddie Mac guaranteed mortgages, which Wall Street happily securitized once the credit rating agencies- which had been given a legally protected oligopoly by the government-declared them to be safe investments. Government owned banks and
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“When businesspeople and senior executives do a bad job they are -eventually at any rate- thrown out on their ear. As Fed Governor, Ben Bernanke convinced his colleagues to pump up an inflationary bubble to avoid a crisis; as U.S
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From Financial Fiasco by John Norberg “The financial strategist George Cooper, who wants to rehabilitate a Keynesian analysis of the financial market, sees similarities between interventionist economist John Maynard Keynes’s desire to stimulate demand in times of crisis and the
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