The U.S. economic and financial crisis is akin to those seen in emerging markets in recent years, according to Simon Johnson, the former chief economist at the International Monetary Fund. Johnson was instrumental in restructuring the economies of South Korea, Malaysia, Russia and Argentina.
the Republicans wanted those loans just as much as the Democrats did... everyone wants to give pork to everybody all the time, that is how the American system works (it is hard to call what we have a "democracy".. so I'll stick to "system)
charr05 2 years ago
Why don't you explain to the American people how the Democratic Party starting with Jimmy Carter and then massively expanded under Bill Clinton "Community Reinvestment Act" that forced the banks through acorn and government policy to make the risky loans in the first place.
LLImachine 2 years ago