by J John Swanko
11/30/10 (People Port) More than one think tank is reviewing decisions made during the outbreak of this Great Recession. Now, law professors are weighing in. Listening to their accounts, one wonders where they where.
To me, it seems like some, see the footage of the Twin Towers falling and are deeply concerned by all those jaywalkers. You say potato...
Our economy's collapse was triggered by a credit freeze. That is what went wrong. There were no dollars, pounds, and the like, available for any of the scenarios you are putting forth to be true. That is a fact. Not one of your arguments work. You can argue North Dakota banks had plenty of capital. Fine. Does not change the fact, this Great Recession started with a credit freeze.
Federal Reserve Chairman Bernanke is working extremely hard to convince American businesses, now there is plenty of money to loan. He is doing everything he can to keep liquidity in the markets. That is his job.
Many commentators saw plenty wrong with the application of government authority. Many were elected officials you now choose to beat up. Looks bad. See, at one time, it was the law professors, retired judges and the like that gave commentators credibility. Few of those created facts from opinions. When they did, They point to the real moral hazard, creating facts from opinion.
People responded to this catastrophe with tools that once worked. Those tools were bent to work in this crisis, new tools were created. Your attempt to rewrite history does your profession real harm. Those real facts were reported here and in every type of media America had (once the election was over). Sorry you did not catch -any of them.
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