The Roots of Things

Rarely does something as huge as the "subprime mortgage crisis" just materialize overnight, out of nowhere. No, it takes a long time for something this big to reach critical mass. There were lots of warnings along the way--but few listened, especially in the mainstream media--after all, there was money to be made. Even now, with the crisis in full view, there is no local High Country coverage of the issue. Perhaps everyone in the High Country is so wealthy that they're not feeling the pinch--although we doubt that.

How did the crisis start? When did the crisis start? Who had a hand in creating the crisis?

Over the last several years, numerous laws designed to prevent just this sort of crisis have been rolled back--all in the name of privatization, monetization, and deregulation.

Who exactly brought us this crisis? You can find out more by listening to Nomi Prins on Counterspin--yes, yet another radio show that is not aired in the High Country. Turns out Ms. Prins knows a thing or two about the true roots of this crisis--because " [b]efore becoming a journalist, Nomi worked on Wall Street as a managing director at Goldman Sachs, and running the international analytics group at Bear Stearns in London."