Thursday, January 27, 2011

What Caused the Financial Crisis?

The financial crisis commission conclusions have been published in book form, which is available at Amazon. The media is focused on the commission's dissenting opinions over who's to blame. I've always contended that if people refrained from buying homes they couldn't afford, the recession wouldn't have happened. Once people took the bait of teaser rates, adjustable rates, yadda, yaddda, it created a cycle of greed. For a long, long time, Americans have been really busy keeping up with the Joneses.