Friday, February 15, 2013

While You Were Out...

 What a long, strange road it's been:
...the dismantling of the Bretton Woods regime, the deregulation of interest rates, the legalization of adjustable-rate mortgages, the invention of securitization, the elimination of the consumer interest deduction, the demographic wave of baby boomers establishing new households,  deregulation of savings and loans, the savings and loan crisis, the invention of financial derivatives, the lowering of tax rates, or the 21st century real estate bubble...
 Link.

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