Humble Berkeley Sociologists Expose Mighty Fed Economists: Here’s Why They’re Bubble Blind

To say this again: If not for the Federal Reserve's ZIRP policy, there would have been no financial crisis in 2007 and 2008. Fannie and Freddie would never have grown beyond their Lilliputian mandates; Angelo Mozilo would be managing a tanning salon; and Bernie Madoff could not have levitated predictably increasing returns without the Federal Reserve's constantly rising cushion of credit absorption
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