Quote:
Originally Posted by Sea Demon
Never said it was. But it is a prime cause of the meltdown in the USA...which of course affected the rest of the world (which happens to buy our treasuries).
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Or maybe the global meltdown had its roots in the same causes of the U.S. crisis - historic low Fed rates, 40-1 leverage, demand for junk AAA-rated paper, too many derivatives?
Nah, easier to toe the party line and blame Fannie, Freddie, Barney Frank and the Democrats.