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There seems to be a lack of curiosity about the costly frauds that have flushed our economy down the toilet. There is a tendency to focus blame on politrick(ians), and not look at the larger fraud behind the fraud, in part , because most economists and media outlets minimize its role.
First, its clear that government officials did mislead us, from original deregulators in the Carter-Reagan years to the financial “modernizers” of the Clinton-Bush 2 era with their refusal to accept responsibility for the consequences of their free market fantasies, the gutting of rules and regulations and embrace of a phony “ownership society.”
It is also now easy to blame the now self-admitted “naivete” of Fedhead Alan Greenspan or the continued arrogance and bluster of Democrat turned Republican Phil Gramm who killed Glass Steagall and called fighters against predatory lenders “terrorists.” It is equally easy to scorn those who claim that our government is a “tyranny” and call Obama a flaming Socialist.