22
02/10
How the Financial Crisis Happened
The U.S. financial meltdown has created a worldwide crisis. Ironically, worldwide scared money is still flowing into U.S. Treasury obligations as a safe haven. This permits more U.S. borrowing, but by drying up credit overseas creates financial crises in other countries.
I’ve been posting for several years on pieces of the origins of this financial crisis. Now Robert Weissman and others have attempted to put together an overall picture of what happened in Sold Out: How Wall Street and Washington Betrayed America, produced by Essential Information and the Consumer Education Foundation. (more…)