I think it is perfectly natural to search for the root cause of all that is ailing the economy and financial system today. This writer has plenty of company in fingering housing as the cause.

I believe that it is impossible to identify one economic factor or one personality trait – greed – as the culprit. As will be discussed in our upcoming client conference call as well as future postings, the multitude of causes of this calamity go back at least 25 years. Every interested party bears some portion of responsibility for this mess – elected officials, central bankers, regulators, financiers, and, ultimately, ourselves.

Posted September 18, 2008 by Nathan Gendelman