The Roots of the Financial Crisis
Posted by Anne Kim, Director of The Middle Class Project Thu, 02 Oct 2008 12:45:00 GMT
Note: This was authored by Stephen Rose, a consulting economist and former senior economic fellow for Third Way and is reprinted from stats.org
To paraphrase a famous saying: the road to financial ruin was paved with good intentions.
But to understand what has happened, you have to start with understanding the role that finance plays in the economy.