4 ms·

Pretty sure most of the decisions of western nations (US/UK in particular) decisions were not based on purely economic reasons. I suspect those in power, the b

Pretty sure most of the decisions of western nations (US/UK in particular) decisions were not based on purely economic reasons. I suspect those in power, the background, and their political ties (big banks) played more into the decision makings rather than pure economics. Geitner, Bernanke, etc. are all big bank people. Krugman and other "independent" (yes, I know there are caveats) economists had other ideas.

Tichy 14y ago
At the end of the lenders chain there are some rich people who want to get their money back and who have ties to the government. The whole thing is basically a scam to relieve the average population of their riches. At least that is my impression of the affair...