Did you ever wonder how our economy got in the mess it is today? We all listen to CNN, Foxnews, the sage old male talking news anchor, the young pretty blonde up and coming news anchor, the fat bald loud politically active male and tall slender blonde political active female and they all blame a different person or group of people.

But are these the people we should be listening too? Are they the ones who really know what happened to our economy? What do the really smart people have to say about what caused this horrendous mess we find ourselves living with? Where are the really smart people so that we can hear or read about what they think? I think I may have found these smart people.

I was doing some reading today on this subject and started following some links. You know how it works, you start at A and think the link goes to B and you end up at R instead. But lo and behold I think I found the smart people who can tell us what really happened. Who are they? They are The Brookings Institution. I have heard of them before. They are the eggheads and the geeks. They are smart. Maybe they have the answer as to what happened to our economy. Today they just published a paper entitled The Origins of the Financial Crisis. I just read the three page summary and have printed the entire forty-five page report which I will review tonight. It may be boring but it should also be good. I wonder if President Obama or anyone else in Washington will read this paper from The Brookings Institution? Probably not as they will all be out with the lobbyist. I will put the link to the three page summary below just in case you would like to read it. At the top of the first page of the summary is the download logo which will give you the entire report.

Oh you want me to summarize the summary? Okay here goes it only takes two words. Stupidity and greed. Yep that's all, just those two words. Read the three page summary it really is interesting and tells us how much we can't trust Wall Street or our local banker.

Here is the link:  http://www.brookings.edu/papers/2008/11_orgins_crisis_baily_litan.aspx

Have a great day!!

Ron