Quote:
Originally Posted by Vexx
That is .... simplistic is a nice way to say it. Its almost like saying the person who invented money caused the crisis. In a real textured world with multiple vectors - there's a fair pile of greed that swirled together to cause the storm and it is still centered on bankers and speculators in Wall Street and other markets.
I think the comments on the article are useful reading and another minus 50 points for the news reporter not linking to the article. In fact, I found 7 or 8 articles that were just rehacks of this article - none pointed to the study.
The author is Heleen Mees, assistant professor of economics at Tilburg University.
Here is an actual link to the study's summary:
http://www.erim.eur.nl/ERIM/events/E...?event_id=2729
The CNBC reporter wrote a sensationalistic piece.. imagine. The author of the study herself was *HOPING* to find tinfoil hat manipulation by the Chinese ... but instead found that "o gods how evil" the Chinese people are better about saving money. That money gave banks more money to lend and Wall Streeters more money to package ... and here we are back at the banksters and Wall Street who had manipulated the laws to deregulate themselves from oversight. |
She didn't find Tinfoil hat wearing Chinese Manipulators but she will find plenty of Tinfoil hat wearing people in the US ready to blame the Chinese for saving too much money,