Did the Bankers Do It?
Bankers’ political tin ear in the aftermath of the crisis – first taking public bailouts and then paying themselves huge bonuses as if nothing had changed – ensured that they got the lion’s share of the blame. But “the bankers did it” narrative is incomplete, which makes it the wrong basis for reform.
https://prosyn.org/JteWwC8
NEW DELHI – Few areas of economic activity in the United States are more politicized than housing finance. Yet the intellectual left has gone to great lengths to absolve regulators, government lending mandates, and agencies like Fannie Mae and Freddie Mac of any responsibility for the housing boom and the subsequent bust.