I don't think there's been nearly enough careful analysis of the probable causes of the current financial crisis. Lots of finger-pointing, but not enough analysis. One pundit I follow has admitted that he doesn't know what the cause might be. Being somewhat of a government interventionist supporter (albeit with small "g" and small "i"), I'm going with minimalist (read: non-existent) regulatory oversight as the root cause, but what do I know?
So, in case you haven't read enough of other's opinions, here is another, courtesy of CBC's Search Engine.
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Atrocious government oversight and regulatory capture definitely played a role, although I have yet to see someone make a strong case for what regulations would have avoided the catastrophe. The financial sector is probably THE MOST heavily regulated industry in the country (besides splitting atoms)...
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