Professor Mark J. Perry's Blog for Economics and Finance
Posted 8:48 AM Post Link
What a surprise our blog host wants to blame it all on poor people. Of course let's forget the fact that investment banks on Wall Street were more than happy to "play along" as long as their executives and emplyoees were also cashing in on the housing scam.I noticed how the gas bag just skipped over the greed and corruption on Wall Street.
"What a surprise our blog host wants to blame it all on poor people."We must have watched different videos. The one I watched featured a guy that laid the blame on Freddie, Fannie, the Federal Reserve and federal legislation. Or perhaps we watched the same video and you are just trying to grossly distort his words.
Colin, I am going to bet on the latter. People speak of "greed" and "corruption" as if they applied only to "Wall Street executives" and no one else. I guess the only way to fix this mess is to have the government step in and "regulate" it. Thank God that at least we can trust politicians and bureaucrats not to be greedy or corrupt and to act with speed and efficiency....thank God indeed. db
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Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan.
Perry holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University near Washington, D.C. In addition, he holds an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota. In addition to a faculty appointment at the University of Michigan-Flint, Perry is also a visiting scholar at The American Enterprise Institute in Washington, D.C.
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