As the popular saying goes, "hindsight is 20/20." Hence, ten years after the 2008 financial crisis, it's time to look back and reconsider the story you've been told of the "Great Recession."
According to legend, the Great Recession was wrought by big banks' insatiable greed. The fake news media, pompous politicians, and all-knowing elites universally blamed evil fat-cat bankers for the foreclosure crisis that sparked the Wall Street meltdown.
Popular history often casts big banks as the villain and low-income Americans as the victims in this epic saga of greed run amuck. Apparently, big banks preyed upon vulnerable Americans by peddling predatory loans and tricking naïve Americans into mortgages they did not want.
However, could it be that "vulnerable Americans" were partially at fault for the housing crisis? How about lawmakers and bureaucrats? What if they were also culpable for the subprime mortgage crisis that fueled the global economic breakdown?
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