Thursday, March 18, 2010

Fraud led to the financial crisis?

By Danny Schechter

It is the number one book in the country. Every day, Michael Lewis's The Big Short is getting bigger, no doubt because he is so media savvy, conversational and likes to laugh with the hosts who interview him about his findings regarding the financial crisis and housing bubble.

On March 14, he laughed with Steve Kroft on 60 Minutes - TV's top news magazine in the US - when the two bantered on how stupid the financial crisis was and why so many smart people believed the official explanations of the reasons behind the global financial crisis.

The story he tells has no hard edges really; it is about "delusion", - Wall Street deluding us all and then each other.

1 comment:

  1. Off topic, but....

    Turkish PM threatens to expel 100,000 Armenians over genocide vote
    Tayyip Erdogan says he 'may have to tell these 100,000 to go back to their country' after the 1915 Ottoman killings vote