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Math: Still Dirty

12.17.2009

Honestly, it’s kind of unbelievable, well not unbelievable … shocking, well not shocking, really … disappointing – it’s really disappointing that Krugman needs to publish a brief history of our financial times just to make sure everyone really knows what happens. We were screwed, people, by the very people who should have known better.

And yet …

Talk to conservatives about the financial crisis and you enter an alternative, bizarro universe in which government bureaucrats, not greedy bankers, caused the meltdown. It’s a universe in which government-sponsored lending agencies triggered the crisis, even though private lenders actually made the vast majority of subprime loans. It’s a universe in which regulators coerced bankers into making loans to unqualified borrowers, even though only one of the top 25 subprime lenders was subject to the regulations in question.

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Filed Under: Etc. Tagged With: economics, NYTimes, Paul Krugman

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