Who was responsible for financial crisis?

Thomas Sowell lays it out. I have explained this several times before, but Sowell does so in his unique way. He also explains how restrictions on development artificially drove up the price of homes especially in California. I would note that in Texas where there were few restrictions on development, the price of homes was more stable and there were far fewer foreclosures. Those who blame it on Wall Street greed just do not understand the dynamics of Wall Street or what actually happened.

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