John Moulton on the credit crunch

[Simpo Two]

C4, on now. Very revealing.

[nsa]

This programme was very interesting. Thought it was a bit lame though to blame it all on the banks without mentioning that their customers were clamouring for CDOs for years up to 2007, otherwise they wouldn't be selling them. A bit like people complaining about tabloid newspapers; if the market actually bought stories about how great people are and the good news of today, that's what they'd print.