Question by NONAME: Why is the US economy so bad?
I heard that it was because of the Jews.
Best answer:
Answer by simplicitus
Boy, those Jews must be pretty stupid. If I had that kind of power, I’d pull a Dr. Evil and demand a ransom NOT to destroy the U.S. economy. Surely the U.S. would rather pay several hundred billion dollars to avoid a recession rather than spend more than a trillion dollars to fix it once it was broken.
Actually, you have a choice of blaming Congress and the politicians or the financial services industry that bribed them. The root cause was the lack of regulation of several aspects of the financial industry, including derivatives trading and the securitization of mortgages.
http://en.wikipedia.org/wiki/Late-2000s_recession
http://en.wikipedia.org/wiki/Subprime_mortgage_crisis
http://en.wikipedia.org/wiki/Gramm-Leach-Bliley_Act
http://www.prospect.org/cs/articles?article=the_conservative_origins_of_the_subprime_mortgage_crisis
Was President Bush Jewish? How about your two senators and your congress-critter (How did they vote when financial regulation came up in Congress – the Gramm-Leach-Bliley Act for one – or don’t you know?)
If you want to listen rather than read, I can suggest:
http://www.thisamericanlife.org/Radio_Episode.aspx?episode=355
http://www.thislife.org/Radio_Episode.aspx?episode=365
http://www.thisamericanlife.org/Radio_Episode.aspx?episode=375
If you prefer reading:
http://baselinescenario.com/financial-crisis-for-beginners/
What do you think? Answer below!