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Notes to myself, possibly of interest to others.
-- Bill Northlich

Wednesday, November 10, 2010

Who ya gonna call - Cause of the Crisis department.

"It’s the big banks that blew up the economy, caused a devestating recession, and pushed up debt by 40 (forty) percentage points relative to GDP. " ---Simon Johnson

"...the Greenspan-instigated remarkable and disastrous housing bubble of 2002-06" ---Jeremy Grantham

"...the root cause..is...The idea that capitalism, for all its considerable virtues, is inherently self-stabilizing" ---James K Galbraith

"...the ultimate cause of the crisis is not entirely understood" ---Ryan Avent

"The Real Cause Of The Crisis Was OTC Derivatives" Ron Hera via Brad DeLong

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