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A Mystery in Which Everyone is Guilty - Johan Norberg on "Financial Fiasco"

• Reason
Reason senior editor Michael C. Moynihan sat down with author Norberg to discuss his latest book Financial Fiasco: How America's Infatuation with Homeownership and Easy Money Created the Economic Crisis, an overview of what caused the current financial crisis (and what did not) and how politicians of all parties and all ideologies helped make the problem much worse.

1 Comments in Response to

Comment by William Klepzig
Entered on:

 Another way out of this government/banking problem.  Dear Congressmen, I wish two million dollars to open the new US Citizens bank.  This bank will buy one billion dollars of the distressed homes for the 1985 value of that home, taking thousands of the bad asset homes off the books from the banks that can't fail and put them into the hands of Americans at a rate they can afford.  The other one billion will be used for credit card services.  Transfers at ten percent fixed and rate on cards at three percent over prime.  As I expect to receive this money at no cost and pay it back with no interest charges this bank will be profitable from the start.  I as CEO will be paid Sixty thousand a year and no one in the bank will receive more then I do.  All profits will be returned into the bank for new loans.

thank you and please contact me Federal Government money bags with a money order for the entire amount.  I will notify the American people when the bank is up and running threw this media outlet.



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