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Truthout's Dean Baker writes: "It is becoming increasing clear that we are facing the worst financial meltdown since the Depression, and Mr. Bernanke was caught asleep at the wheel. We are just at the beginning of the housing crash recession. It will get much worse, as the economists who never saw it coming are now recognizing. There will be many more credit freeze-ups and debt write-downs that are an order of magnitude larger than what we have seen to date. There will be plenty of blame to go around in this story, but it is not too early to start holding people accountable. There was a colossal failure of economic policy, and its perpetrators should not be able to walk away unscathed."

http://www.truthout.org/docs_2006/021808A.shtml



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