For those of you who want to learn more about the real root causes of the current financial crisis, in simple english, there was a fantastic episode of This American Life on NPR this morning. The show was produced by Alex Blumberg and Adam Davidson of the equally awesome Planet Money. The episode will be available tomorrow for free from their website or iTunes.
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nice title for that paul.
to add another source that I found useful:
http://www.globalresearch.ca/index.php?context=va&aid=7876
also noteworthy is that it was written in january of this year. some nuggets:
The support of the Greenspan Fed for unregulated treatment of financial derivatives after the 1987 crash was instrumental in the global explosion in nominal volumes of derivatives trading. The global derivatives market grew by 23,102% since 1987 to a staggering $370 trillion by end of 2006. The nominal volumes were incomprehensible.
Greenspan’s last legacy will be leaving the Fed and with it the American taxpayer with the role as Lender of Last Resort, to bail out the major banks and financial institutions, today’s Money Trust, after the meltdown of his multi-trillion dollar mortgage securitization bubble.
another link I just found:
http://mises.org/story/2926
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