The Big Con: Reassessing the ‘Great’ Recession and its ‘fix’ | VOX, CEPR Policy Portal: The general consensus on what caused the Great Recession can be summed up as “bad banks full of bad bankers did bad things”. This column argues, however, that this narrative doesn’t fit the facts. And worse, it diverts attention from the real problem, which was regular use of a bad banking system – a banking system built to fail.
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