Author Archives: Popular Economics Weekly

Why the difficulty in pinning down who was responsible, is the question we asked last week. A major source of the problem is the claim the players weren’t responsible for any consequences. Even Alan Greenspan had said the Federal Reserve wasn’t able to detect asset bubbles—the major cause of most financial meltdowns—so how could anyone else detect them? And if not detectable, than how could anyone be held responsible for causing them, and the losses when they burst? Continue reading →