Sunday, 7 December 2008

Who caused the great crash of 2008?

by Lee Sustar from Socialist Worker (US) 5 December 2008 There are plenty of people who should be held accountable for turning an ordinary recession that began a year ago into a global catastrophe. Topping the list is former Federal Reserve Chair Alan Greenspan, who fed the bubble by keeping interest rates at rock-bottom levels, urging home buyers to take on adjustable-rate home loans and refusing to use the Fed's powers to oversee a mortgage industry rife with fraud.

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