The reasons ...

I'm late today. Hadda dig out the car and I still have to empty the dog and take the Mrs. to the train station. That said, you should read this post from Krugman on the reasons why we're in this mess to begin with.

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Mr. Bernanke cited “the depth and sophistication of the country’s financial markets (which, among other things, have allowed households easy access to housing wealth).” Depth, yes. But sophistication? Well, you could say that American bankers, empowered by a quarter-century of deregulatory zeal, led the world in finding sophisticated ways to enrich themselves by hiding risk and fooling investors.

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That's what it all boils down to. Republican "fiscal conservatism" = Greed

Later ...