{"id":451,"date":"2008-11-26T00:45:17","date_gmt":"2008-11-26T04:45:17","guid":{"rendered":"https:\/\/dandunn.org\/blog\/?p=451"},"modified":"2008-11-26T00:47:31","modified_gmt":"2008-11-26T04:47:31","slug":"the-sources-of-the-financial-crisis","status":"publish","type":"post","link":"https:\/\/dandunn.org\/blog\/2008\/11\/the-sources-of-the-financial-crisis\/","title":{"rendered":"The Sources of the Financial Crisis"},"content":{"rendered":"<p>October was a month of breathless financial reporting. \u00c2\u00a0There was a lot to be breathless about &#8211; the markets were crazy, day after day after day. \u00c2\u00a0I know that every editor told every reporter &#8220;Explain why this is happening!&#8221; It was what the readers wanted, and hell, it might even land a Pulitzer if you got it right.<\/p>\n<p>What happened was that everyone who had an axe to grind brought it out for sharpening. \u00c2\u00a0Depending on who you talked to, the problem was:<\/p>\n<ul>\n<li>unrestrained greed of individuals and corporations<\/li>\n<li>politicians who demanded that low-income citizens be able to purchase homes they ultimately could not afford<\/li>\n<li>deregulation<\/li>\n<li>excessive regulation<\/li>\n<\/ul>\n<p>Each one of those explanations left me unsatisfied. \u00c2\u00a0The arguments were all made by the usual suspects, making the usual, predictable arguments. \u00c2\u00a0&#8220;Sure, that might be <strong>part<\/strong>\u00c2\u00a0of the problem,&#8221; I said to myself, &#8220;but that&#8217;s too glib and leaves too much unexplained.&#8221;<\/p>\n<p>So far, I think that <a href=\"http:\/\/www.portfolio.com\/news-markets\/national-news\/portfolio\/2008\/11\/11\/The-End-of-Wall-Streets-Boom\">Michael Lewis is closest to the real truth<\/a>. \u00c2\u00a0We&#8217;ll see if history agrees.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>October was a month of breathless financial reporting. \u00c2\u00a0There was a lot to be breathless about &#8211; the markets were crazy, day after day after day. \u00c2\u00a0I know that every editor told every reporter &#8220;Explain why this is happening!&#8221; It was what the readers wanted, and hell, it might even land a Pulitzer if you [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-451","post","type-post","status-publish","format-standard","hentry","category-national"],"_links":{"self":[{"href":"https:\/\/dandunn.org\/blog\/wp-json\/wp\/v2\/posts\/451","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dandunn.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dandunn.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dandunn.org\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dandunn.org\/blog\/wp-json\/wp\/v2\/comments?post=451"}],"version-history":[{"count":0,"href":"https:\/\/dandunn.org\/blog\/wp-json\/wp\/v2\/posts\/451\/revisions"}],"wp:attachment":[{"href":"https:\/\/dandunn.org\/blog\/wp-json\/wp\/v2\/media?parent=451"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dandunn.org\/blog\/wp-json\/wp\/v2\/categories?post=451"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dandunn.org\/blog\/wp-json\/wp\/v2\/tags?post=451"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}