As Stocks Tumble, Wealthy Speculators Bid Up House Prices
The long-run effect of Obama’s choice to bail out lenders, not borrowers
Published in
5 min readJan 27, 2022
The Obama administration’s most consequential decision was to address the Great Financial Crisis by bailing out the finance sector, rather than borrowers. It was an unforced error, directed by Goldman Sachs bankers elevated to the ranks of finance…