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Anatomy of a Meltdown

Posted on June 15, 2008

There is an interesting three part series in the Washington Post on the U.S. Housing Bust. Part one is called The Credit Crisis . Of course this blog has been talking about the credit crisis for years, while most of the mainstream press was in absolute denial. Greenspan, Bernanke, and the Treasury department were also (and still are) in denial as well.Let's start with a chart by the Washington Post showing a timeline of the bubble.click on chart for sharper imageMyth Of The Savings GlutThe above chat perpetuates the myth proposed by Bernanke that some sort of savings glut was responsible fo...

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