Bloomberg’s Misdirection Creates An Information Festival

Mayor Michael Bloomberg [NYC] said this morning that if there is anyone to blame for the mortgage crisis that led the collapse of the financial industry, it’s not the “big banks,” but Congress.

I hear this hokum quite a bit from the people who break away from sports betting just long enough to listen to a few minutes of Fox News, along with the litany of talking points about Fanny, Freddie, Barney Frank, and Nancy Pelosi. So here’s a list of references for me to point to, with numerous substantiating data source links:

The simple version:
What caused the financial crisis? The Big Lie goes viral – Barry Ritholtz – The Washington Post.

The black humor version:
Mike Bloomberg’s Marie Antoinette Moment – Matt Taibbi – Rolling Stone

The financial background version:
Hey Mayor Bloomberg! No, the GSEs Did Not Cause the Financial Meltdown (but thats just according to the data) – Mike Konczal – The Big Picture

The financial background version elaborated with original YouTube video:
Bloomberg’s Awful Comment; What Can We Say For Certain Regarding the GSEs? – Mike Konczal – Rortybomb