The leading explanation for today's financial mess points to "greed" and "corruption" on Wall Street. But the roots of this crisis lie in key policy decisions stretching back over more than three decades.
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BERKELEY – Getting out of our current financial mess requires understanding how we got into it in the first place. The fundamental cause, according to the likes of John McCain, was greed and corruption on Wall Street. Though not one to deny the existence of such base motives, I would insist that the crisis has its roots in key policy decisions stretching back over decades.