The new piece starts of this way
The mortgage crisis has produced a massive case of political amnesia. That happens when one is trying to redirect blame for something that could cost up to $700 billion. Some who now claim that the mortgage crisis is the result of too little regulation saw things more clearly when so much wasn’t at stake.
The New York Times editorialized on Saturday that “This crisis is the result of a willful and systematic failure by the government to regulate and monitor the activities of bankers, lenders, hedge funds, insurers and other market players.” If you believe the Times or the Obama campaign, everything but government regulation is to blame for the crisis.
Yet, it is not just economists who were predicting these problems. For example, a September 30, 1999, article in the New York Times predicted exactly what has happened: . . . .
Labels: 2008PresidentialRace, mortgagecrisis, op-ed