Posted by: Brian Lawrence Helmes | November 29, 2012
The financial crisis that was seeded with a flood of cheap credit in the fall of 2008 affected millions of people and reduced the wealth of American households by over $7 trillion dollars. As the biggest names on Wall St. and the brightest scholars in academia tried to make sense of this catastrophe, average investors were stuck holding the bag asking, "How did no one see this coming?" Has the financial system become so complex that the people whose job it is to manage and regulate it can no longer effectively perform their duties? The actions and policies of the federal government(s) that followed were inherently reactionary and have done little to suppress the high-risk behavior of the remaining financial powerhouses.