Comment

This Time Is Different

Eight Centuries of Financial Folly
Sep 21, 2014StarGladiator rated this title 0.5 out of 5 stars
The commenter, LRS1969, seems a bit confused: Reinhart and Rogoff are pro-austerity, pro-Wall Street and are about confusing the masses - - securitization and the 1920s--style CDOs, called mortgage participation certificates, led to the Great Crash, just as securitization and CDOs and ultra-leveraging did this time as well! [Reinhart is a fellow at the Peterson Institute, for God's sakes!] The commenter, delfon, is naturally quite correct. The misleading description . . .[in quotes] /// leading economists Carmen Reinhart and Kenneth Rogoff \\\ leading economists? By whose flakey standards? Their report that was destroyed by Thomas Herndon of UMass was grade-school crud and flotsam and if that's the best that Harvard can produce, faculty wise, it is time to shut down their economics department forever [if not the entire university, sure would drive down the crime stats]. Just read Rogoff's and Reinhart's austerity study [did I type STUDY????], my goodness!