economic crisis

[nerdious dorkus]

nathan recently asked me what i thought caused the economic crisis recently and i attempted to answer it as best as i could. but i think newsweek does a much better job.

it's a really interesting read, especially if you want to know about the "facts" that are being vomited out during the campaign for presidency.

[Nathan]

Good show man. Thanks for the linkage!

[Nathan]

Sounds like you were right. Greed. Greed combined with complacency. How about we take all the money spent on campaigning for President for 2 years, and use that to fix some things?

[nerdious dorkus]

it wasn't just greed though. it seems it stems back to clinton's presidency term, when credit was easily accessible and prime rate was, at one point, at the lowest it had ever been. not to mention the push for arms and the brokers' failure to advise borrowers of possible higher payments.

[nerdious dorkus]

in regards to the bailout, i think that livescience has a great idea. if wall street fucks up, give the regular people that are paying for the bailout to get revenge. basically, give us the ability to punish those that are responsible.