Nouriel Roubini, a democrat operative, former advisor to Timmay Geithner, is taking on Jim Cramer, now that fearless liberal leader John Stewart has done the heavy lifting.
Roubini had made a career out of saying liberal economic policies were bad while supporting liberal economic polices. He is one of the few who point out the housing crisis keystone in the current economic crisis. He does not blame complex credit swaps or other financial machinations, he blames good ‘ol real estate and defaulted mortgages on the current crisis.
Of course, when cornered, he sits the fence saying the crisis was “speculative.” Yet he is quoted by the Times: “homeowners defaulting on mortgages, trillions of dollars of mortgage-backed securities unraveling worldwide and the global financial system shuddering to a halt.”
So he really is on the mortgage default bandwagon. Why then did he support mortgages for people he knew would not pay?
This game is still being played, as one of Roubini’s heroes, Larry Summers, cashes in on the current state of economic affairs.
Are there any serious reporters left in America?
