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which bears out my point that the Government conveniently looked away rather than regulate. Yes, I could have expressed that better. I meant that securitization (as a shorthand for creating complex financial derivatives, often with the intention of disguising the true risk to society) combined...

The Government contributed to the crash by failing to regulate credit markets properly. 'See no evil hear no evil' is no defence to the charge that they looked away when they should have been doing their job. Risk was being mis-priced and this could only happen with lax regulation. Our...

Western Governments (including the Blair/Brown one) presided over a credit induced bubble designed to artificially inflate growth and keep them in power. 'The Big Short' deals extensively with this in its description of the light regulation of ratings agencies and borrowers. It was a party that...