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Secondary booms duly followed - in new shopping malls; in the shiny new office buildings and die luxury hotels and restaurants that bankers like; and in highly leveraged buyouts of companies riding the same waves, such as hotel chains, retailers, casinos, furniture stores, and home builders. AU that easy credit allowed Americans - consumers, businesses, and government together - to spend 5 percent more than we produced, for an overrun of $4.5 trillion over the entire period from 2000 through 2007.\n The derivative inventions that enable irresponsible mortgage brokers in Nevada to destroy banks in Switzerland are very dangerous, and the industry has proved that it can't be trusted with them. * The financial sector has to shrink. [...] there are no winners here.

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