Mises Daily
Author:
Leland B. Yeager
Online Publish Date:
on how to fix the system, I should outline what happened to damage it. Government policies intended to promote home ownership, even by people otherwise not able to action. Opinions differ about how much of the blame falls on Federal Reserve policy and how much on a “world savings glut,” notably in China, that fed heavy flows the desires both of ultimate savers and of borrowers and stock-issuing firms. Even innovative instruments, such as credit-default swaps and securitized loans — to which