Blogs » H1N1 Vaccine » I Saw the Crisis Coming. Why Didn’t the Fed


In an Op-Ed in the New York Times today there is a compelling story about what caused the financial meltdown that has caused our country such human tragedy and leaves our children with such a great burden. "I Saw the Crisis Coming. Why Didn’t the Fed?" by Michael Burry is a must read if you are interested in the truth. Michael J. Burry ran the hedge fund Scion Capital from 2000 until 2008.

An excerpt from the article:

"And even when the full extent of the financial crisis became painfully clear early in 2007, the Federal Reserve chairman, the Treasury secretary, the president and senior members of Congress repeatedly underestimated the severity of the problem, ultimately leaving themselves with only one policy tool — the epic and unfair taxpayer-financed bailouts. Now, in exchange for that extra year or two of consumer bliss we all enjoyed, our children and our children’s children will suffer terrible financial consequences."