The Big Lie: A Repository of Stories

Anatomy of a Collapse - from Bailout Nation by Barry Ritholtz

The Big Lie referred to here is that Bill Clinton, Barney Frank, Nancy Pelosi, and Democrats in toto forced the banking industry through regulatory requirements to make home loans to people who were without the means to pay back the loans. The borrowers are viewed as opportunistic scam artists worthy of disdain for jumping on the asset inflation train. Then in 2007 these miscreants chose to begin not paying their mortgages, and so initiated the near collapse of the western world’s financial system.

[Click for a large image.]

In this story line the financial industry was an innocent bystander, even while growing larger as a percentage of GDP over the period than ever before in American history, with the associated stories of outsized renumeration, and advantaged tax rate.

So this is my collection of readings on the subject. Not all my readings on the subject. Just the ones that I appreciate. And so far, this is why I agree that it is in fact a Big Lie.