Author EE Knight was kind enough to post smart guy Jim Manzi’s explanation of how our current finanical crisis came about. I thought it was a great summary not only of how we got here, but also why it’s important to even those of us who do make our mortgage payments. It’s a plain English explanation we “regular Joes” (and Janes) who aren’t investment bankers can understand. Give it a read.
On the flip side, if you haven’t had your daily quota of righteous outrage, then check out this article on how the titans of the financial industry who led the banking system into this mess will still leave their jobs as multimillionaires. You might also be interested in this chart showing lobbying spending from Fannie Mae and Freddie Mac. Then finally, follow it up with an essay called What Wall Street Should Do to Get Its Blank Check, (the last found via LiveJournaler, Savageplanet)
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