BBRG: 10 Things People Still Get Wrong About the Financial Crisis

BBRG: 10 Things People Still Get Wrong About the Financial Crisis


10 Things People Still Get Wrong About the Financial Crisis
All are the result of bias, ignorance, laziness or bad faith.
Bloomberg, September 14, 2018

 

 

Hard to imagine that people — still — get so much wrong about the 2007-09 financial crisis. I created a list of what I believe are the flawed memes, misunderstandings and just outright falsehoods about the financial crisis and its aftermath:

Top 10 biggest Misunderstandings People Have About the GFC

1. Lehman’s collapse caused the crisis
2. If not for X, we would have been OK
3. Repeal of Glass-Steagall
4. Bailouts were the only option
5. Taxpayers were repaid in full and even made a profit
6. No one went to jail because stupidity isn’t a crime
7. Borrowers were as blameworthy as lenders
8. Poor people caused the crisis:
9. The Fed Prevented Congress From Doing More
10. Lehman could have been saved

 

Please see the full column here.

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I originally published this at Bloomberg, September 14, 2018. All of my Bloomberg columns can be found here and here



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