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mahatmakanejeeves

(57,670 posts)
Thu Jun 12, 2014, 02:08 PM Jun 2014

David Brat on What Caused the Financial Crisis

I usually put the economic stuff in the Economy forum, but this is a Virginia thing all the way.

Wait - "a lack of regulation?" What?

David Brat on What Caused the Financial Crisis

12:09 pm ET Jun 12, 2014 Global

By Nick Timiraos

Bad investment decisions, a lack of regulation, major shocks to the economy and historically low interest rates were primary causes of the 2008 financial crisis, according to a paper co-authored by David Brat that was presented at a conference in 2009.

Mr. Brat, the Virginia Republican who defeated House Majority Leader Eric Cantor (R., Va.) on Tuesday, is an economics professor at Randolph Macon College in Ashland, Va. As others have noted, much of his writings wed studies of market economics with Christianity and Protestant ethics.


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David Brat Just Became the Christian Right’s Favorite Economist

I'd compose a hymn, "Onward, Christian Economists," but I can't find anything that rhymes with "economists."

I need to add that I took some Economic courses from a fellow who is an Evangelical. He never made anyone uncomfortable about it that I know of, and he was a great instructor. He is still active, even after ... well, a few years. He and one of his colleagues, who died not so long ago and was one of the Chosen People, co-authored a series of books.
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David Brat on What Caused the Financial Crisis (Original Post) mahatmakanejeeves Jun 2014 OP
rhymes with "economists nykym Jun 2014 #1
Wait: I've got it. mahatmakanejeeves Jun 2014 #6
"historically low interest rates were primary causes of the 2008 financial crisis...." How? yourout Jun 2014 #2
too much money available plus lack of regulation dem in texas Jun 2014 #3
I would argue the biggest cause was lack of a tax code to incentivise investment in manufacturing... yourout Jun 2014 #4
David Brat should have had his Ph.D. revoked for that paper jmowreader Jun 2014 #5
New Testament Christians locks Jun 2014 #7

mahatmakanejeeves

(57,670 posts)
6. Wait: I've got it.
Thu Jun 12, 2014, 03:07 PM
Jun 2014

"Onward, Christian economists.
You remind me of Bosch, Hieronymus."

Okay, it needs some work.

yourout

(7,534 posts)
2. "historically low interest rates were primary causes of the 2008 financial crisis...." How?
Thu Jun 12, 2014, 02:19 PM
Jun 2014

Not sure how low interest rates would cause a financial crisis other than big money types being more willing to play Russian roulette with their money.

dem in texas

(2,674 posts)
3. too much money available plus lack of regulation
Thu Jun 12, 2014, 02:26 PM
Jun 2014

allowed wall street to turn into a gambling den and as they say "main street" bore the brunt of the collapse while the hedge funders and bankers counted all their money while the tax payers rescued them from their follies. Now the same thing is happening again. When will we learn.

yourout

(7,534 posts)
4. I would argue the biggest cause was lack of a tax code to incentivise investment in manufacturing...
Thu Jun 12, 2014, 02:42 PM
Jun 2014

growth here in the US.

Much steeper tax rates at the top with credits and other incentives to grow and hire here in the USA would get us back on our feet in a hurry.

jmowreader

(50,567 posts)
5. David Brat should have had his Ph.D. revoked for that paper
Thu Jun 12, 2014, 02:52 PM
Jun 2014

A purported Economics Professor who ignores the role derivatives played in the financial crisis needs not to be infecting the minds of impressionable youth.

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