***US financial crisis/bail-out master thread***

[ebola?]

There isn't pretty much universal agreement among economists about this issue. I keep hearing the media say that but it isn't true. I believe some 150 economists took out a full page ad in the new york times to announce this very fact.

And thank god. Joseph Stiglitz has a pretty good take, as does Robert Brenner.

There might be, however, universal agreement that some political intervention was necessary, as market mechanisms wouldn't solve the issue (not that what was done really did).

 

[kong]

The market responded to ultra low interest rates and government invention in the market by creating a huge housing bubble. There is no solving the issue. Someone had to lose their shirt, to bad it was the American people not the banks.

 

[CFC]

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