Tuesday, December 9, 2008

Not Worth The Glossy Paper It's Printed On

I guess it's never too early to begin with the revisionist history.

Writing in Vanity Fair, Joesph Stiglitz, Nobel prize-winning nitwit, has the following to say about the causes of our current financial panic, "...a debate over the causes of our current situation. The battle for the past will determine the battle for the present. So it's crucial to get the history straight."

In short,
he blames:
Ronald Reagan
"free-market zealot" Ayn Rand
the Bush tax cuts

he exonerates:
the Community Reinvestment Act
Fannie Mae
Freddie Mac

There are a few more details, but you get his drift.

I can't wait to get my Nobel prize in economics!

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