Tuesday, March 25, 2008
Who’s really to blame for the financial crisis?
"...banks created an environment in which it was all too easy to overstretch yourself – and if you stayed on the sidelines and saved, you looked like an idiot, and a whole lot poorer than your property-rich compatriots... But who was behind the banks? The truth is that this whole thing comes back to central banks. The world’s key interest rates were set too low for too long..."