AmacamA

WHY DIDN’T THE SENIOR MANAGERS OF FINANCIAL CORPORATIONS SAVE US FROM THE PRESENT FINANCIAL CRISIS? The matter that I would like to discuss here concerns the present financial meltdown. Let us start off with a short summary on the cause of the financial crisis. In August 2002, a macroeconomist discovered a housing bubble. Dean Baker [...]

People are losing their homes and many more will lose their jobs before the mortgage meltdown works its way through the system. To paraphrase Alan Greenspan’s remarks on March 17th, 2008, “The current financial crisis in the US is likely to be judged in retrospect as the most wrenching since the end of the Second [...]