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Did deregulation really cause the crisis?

Justin Webb | 19:37 UK time, Monday, 6 October 2008

Are the Democrats getting away with a Big Lie?

The suggestion that deregulation "caused the crisis" is convenient for Democrats in the domestic context and for those who dislike freedom and capitalism worldwide. But is it true?

Simon Cowell is not the only British import to the US who has made a career putting the Yanks right. This fellow - full disclosure, he is a friend of mine - does it as well.

An earlier piece in the UK sets out the same view in more political terms and with a wealth of fascinating detail.

And how about a piece from the distant past when the whole thing was akin to the sound of distant thunder at a summer party (to use Philip Larkin's memorable description of (I think) old age creeping on).


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