Public policy encourages risky lending? That’s CRAzy!
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Since the Mayan calendar didn’t usher in an end to the Great Recession, we still have to figure out why it happened. We could boil it down to two deadly sins (greed and pride) and two groups of culprits (financiers and legislators). The typical storyline is that greedy financiers worked around too-loose regulations in creating subprime mortgages that were grouped together and packaged as mor... More




