Fed study says Bush and the banks didn’t cause the Great Recession. The Fed did
The study specifically states..
Oh, the downturn first started with “correction of an excess in the housing stock and a sharp increase in energy prices” — the housing bust and the oil shock. Indeed, those two things were enough, in Hetzel’s view, to cause a “moderate recession” beginning in December 2007.
Considering the energy spike was pretty much caused by criminal behavior of the unchecked energy sector, that alone implicates Bush having caused a substantial portion of the mess… geesh.. get your own articles straight!
(Source: , via wherelibertydwells)
