this is an adventure

“The size and scope of federal spending on programs to boost economic mobility, paid for disproportionately by the rich, helps us to see that the current system — again in contrast to the common ­perception — is structurally designed to help the poor.” But the results of these programs can’t compete with the fundamentals.

Stockholm syndrome as applied to international financial affairs is apotheosized in the “Cloying dependence between hostages and hostage — takers in drawn-out abductions describes the symbiotic bonds between the world’s biggest debtor, the US Treasury, and the largest creditor, the People’s Bank of China.”

“With all of their reporters digging through McDonnell’s past comments, the Post seems to have overlooked comments made by McDonnell’s Democratic opponent, Creigh Deeds–only ten, not twenty years ago.” These are, of course, irrelevant: “I have never voted to allow gay partners to receive medical insurance — or any other benefit — from the state.”

According to Arnold Kling, “Many regulatory policies were major contributors to the crisis. To proceed without examining past policies, particularly in the areas of housing and bank capital regulation, would preclude learning the lessons of history.” He delves into five major myths about the financial crisis and its causes.