[GOPJ]

Don't agree with this crap - the reason the banks made horrible loans was because they were protected to some degree from the natural risk. And that was done by government incentives.

This guys argument is something like a company that has too many washing machines to sell gives them away for $5 each. No one would do that unless powerful incentives were in place.

[WayneLusvardi]

The theory that our financial crisis has at its root cause a demographic imbalance comes from David P. Goldman, who held
senior research positions at Bear Stearns, Credit Suisse and Bank of America. At Bank of America he ran a highly rated fixed income research department between 2002 to 2005, with 120 professionals and mid-nine-figure compensation budget. David P. Goldman now blogs at Inner Workings and at First Things under the name “Spengler.”