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October 11, 2008
From systemic to scapegoats
Even as we search for solutions to the financial crisis, the search for the "why" is also underway. Congressional hearings are planned. Politicians have already pointed the finger (as have some average citizens using the middle finger). While it is important to understand the "why", it is interesting how the answer is influenced by ideological and political filters. The Republicans and the right are blaming the crisis on housing loans to poor people; the Democrats and the left are blaming greedy Wall Street speculators.
This rush to find scapegoats is part human nature. That does not mean it is correct. Understanding the "why" will take more than playing to the current political climate. So, come on guys and gals: what part of "systematic" in "systematic crisis" don't you understand?
Posted by Ken Jarboe at October 11, 2008 10:07 AM
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