Did Cocaine Cause The Crunch

The Guardian  –  15 April 2013

“Wall Street got drunk” was George W Bush’s typically incisive take on the main cause of the emerging financial crisis in July 2008. Two years later the governor of the Bank of England, Mervyn King, explained in his Mansion House speech that “the role of a central bank in monetary policy is to take the punch bowl away just as the party gets going” Continue reading