Justifying the Story

I’m not sure why this Forbes writer had to qualify the obvious:

The government played its own part in the current credit crunch, too. For all the scapegoating of deregulation, thoughtful commentators also point to the Federal Reserve’s policy of cheap money, and Fannie and Freddie’s enormous appetite for junk mortgages–urged all the way by politicians trying to make credit available to poor and risky borrowers. Market psychology was part of the story, but not the whole story. [Emphasis added.]

This is an article alleging such “market psychology,” and so the added bit is likely similar to the heroine’s failure to put a bullet in the villain’s brainpan: if she did, there wouldn’t be a story.

Speak Your Mind