What caused the financial crisis? The Big Lie goes viral.

[mookiemookie]

Why are people trying to rewrite the history of the crisis? Some are simply trying to save face. Interest groups who advocate for deregulation of the finance sector would prefer that deregulation not receive any blame for the crisis.

Some stand to profit from the status quo: Banks present a systemic risk to the economy, and reducing that risk by lowering their leverage and increasing capital requirements also lowers profitability. Others are hired guns, doing the bidding of bosses on Wall Street.

It's funny to watch people not only trying to rewrite history, but trying to rewrite such recent history. It's so brazen. And sadly, it seems to be working on some level.

http://www.washingtonpost.com/busine...OqM_story.html