What Really Caused the Financial Crisis?

October 31, 2014

What Really Caused the Financial Crisis?

Good article on the cause of the financial crisis and how far others will go to distort the truth by Petter J. Wallison in The American Spectator:

It’s always painful to take on the myths and ideological narratives of the left. The pundits of the liberal (excuse me, “progressive”) media make a pretense of listening to reason, but when their views are challenged, they become abusive. You are not honestly trying to find the truth; you are making up data, actually lying. If you are skeptical about anthropogenic global climate change, you’re not just a skeptic—you’re a denier (as in Holocaust denier).

[Snip]

One good example of this is my dispute with Joe Nocera, a columnist for the New York Times. It began in January 2011, shortly after I had dissented from the majority report of the Financial Crisis Inquiry Commission (FCIC). In that dissent, I argued that the financial crisis was caused by the government’s housing policies, and not—as the government and the mainstream media had been saying since 2008—by predatory lending, greed on Wall Street, and insufficient regulation of the private sector.

Read the whole thing at The American Spectator      

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