Why Wall Street Always Blows It
A cautionary tale for anyone who lives to see the next financial bubble:
Why financial bubbles form; why they will always form; why everyone is to blame for the housing bubble (real estate brokers who encouraged individuals to buy at high prices, mortgage brokers who sold adjustable rate mortgages that would eventually reset, Alan Greenspan who kept interest rates low for too long, home buyers who bought homes they could not afford, the regulators who were asleep at the switch and Wall Street types who sold securities which were backed by risky mortgages) and how all parties acted rationally.
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