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Robert Pollin, The Boston Review: "The collapse of the housing bubble and the speculative market for subprime mortgages demonstrates, yet again, the simple point that financial markets need tight regulation. Since September 2008 a series of massive bailouts by the US Treasury and Federal Reserve has prevented financial markets from experiencing a 1929-style collapse. These extreme measures, however, have not solved the broader problems at hand. As of this writing, we are experiencing the most severe economic downturn since the 1930s."

http://www.truthout.org/010909T



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