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It's a bit more complicated than that: http://www.portfolio.com/news-markets/national-news/portfolio/2008/11/11/The-End-of-Wall-Streets-Boom http://www.portfol

• byrneseyeview 18y ago
  I am pretty sure that was implicit in my comment. I have read the Lewis piece, which is a great way to get an overview from the perspective of the half-dozen folks willing to give Lewis an interview. I'm not saying that this was entirely due to government intervention -- just that the giant tax incentives, aggressive government market manipulation, and $100B+ portfolios long mortgages and short puts created by government agencies.