The year of living frugallyWritten by Kamrul Idris
After three years of fault-finding, a standard script has emerged of the 2008 financial crisis that blames everything on the banks.
"Script" is not just a metaphor. Third place in the 2011 Oscar for best documentary was Inside Job, which, as the title suggests, points a stabbing finger in the eye of a conspiratorial Wall Street. The storyline is straightforward: financial firms co-opted regulators ("institutional capture", in the jargon) to let them take outrageous liberties with borrowed money, including lending to an unbelievable number of mugs who could not repay.......... Download the full article in pdf attachment (below)
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