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LA-LA-LA! I’m not listening: How financial meltdowns happen…

Watch this bunch of pundits rounding on some fool suggesting that the housing bubble in America was about to burst and that rather than creating wealth they were “destroying capital”…

Ouch. And that, ladies and gentlemen, is how we ended up in this mess… Greedy people ignoring anyone who dared to talk sense, shouting them down (“You gonna come on the programme, again? Are ya?”)

In case you need reminding, those guys were experts with airtime on mainstream media.

Via Charlie Peverett.

: : I also have bookmarked today’s Andrew Rawnsley column in the Observer, which lists out just how adoring both Gordon Brown and David Cameron were of the City and how little they cared for the idea of regulation. Now both are trying to make political capital from blaming the other for the financial crisis. Bookmarked to remind me not to believe either of them…