Cliff Notes Version of the Banking Crisis (that Lives On, and On, and On)

I’ve followed the financial meltdown closely these past four years, and I’ve been glad I studied economics, because without it I wouldn’t begin to understand the modern ways of Wall Street. Even with it there are aspects that I find impossible to follow.

So what about the 99 percent of citizens who didn’t study economics? How are they to get their heads around what happened to us?

Enter Gretchen Morgenson, a New York Times reporter with such a clear writing style and strong moral compass that, I promise you, you will learn a lot and understand a lot about this ongoing mess, many times more than you ever have before. There are other experts with integrity, such as MIT economist Simon Johnson and Harvard law professor and Treasury advisor (who should have been Treasury Secretary) Elizabeth Warren, who can articulate the complex issues pretty well and very truthfully, but none surpass Gretchen’s written reports that I have seen.

For an understandable overview of what happened to us, see her recent article on the government’s report of the crash’s origins. She makes no bones about the fact that the Wall Street perpetrators have still not been reined in, and so we are still at grave risk.

Read it here: In Bank Crisis Report, a Whodunit with Laughs and Tears, by Gretchen Morgenson of the New York Times.

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