In the post I link to he makes his case by arguing facts.
He may even be right, and the Paul Rosenberg article is lightweight and appears on what looks like a kook web site. But it seems to me that there's no real difference between their respective conclusions.
Rosenberg writes:
So, when they say, “No one saw this crisis coming,” they may be telling the truth, at least as far as they know it. Neither they nor anyone in their circles would entertain such thoughts. Likewise, they may not see the next crisis until it hits them.
Plenty of big banks did make money by betting on the crisis. There were a lot of cases where banks sold their clients products the banks knew that the products would go south.
Realising that there are important political things that don't happen in the open is a meaningful conclusion. Matt ...
Another month has passed and here is a new rationality quotes thread. The usual rules are: