Podcasts Culture 7.4 Even if the balloon does burst, Ben will get out the money helicopter

7.4 Even if the balloon does burst, Ben will get out the money helicopter

Published: Feb. 19, 2021, 5:59 p.m.

Everyone blames the banks for the catastrophic mess of the 2008 meltdown in the US housing sector.  Films such as "The Big Short" point to the crazy complexity banks created to shift the risk into opaque parts of the world.  They are right, it was that bad.  There were two other actors rarely mentioned that gave the banks the green light to go crazy and that was the repel of regulation put in place after the 1929 crash plus government policy to make home-ownership the norm. 

(picture is that of Ben Bernake, that was the famous chairman of the Fed)

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