"False values" and "structural blackmail"

by James Crotty Monday, Jan. 11, 2010 at 3:43 PM
mbatko01@gmail.com

The creation of speculative bubbles creates false values, which lead to huge bonuses. The financial crisis was triggered by falling housing prices. The crisis was met with government bailoutsx but the "moral hazard" was not countered.

.4 billion was given by financial institutions in lobbying and campaign contributions.

The whole conventional wisdom is to blame: if you let financial services alone, the economy will benefit.

If you deregulate, the financial markets eventually bubble. If you don't have regulations, there are no legal crimes, only moral crimes.

to hear the interview with James Crotty, professor at UMass Amherst on www.therealnews.com, click on

http://therealnews.com/t2/index.php?option=com_content&task=view&id=31&Itemid=74&jumival=4696

Original: "False values" and "structural blackmail"