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Is a U.S. Default Inevitable?

January 15, 2010
Patrick J. Buchanan
1/15/2010

We were blindsided. We never saw it coming.

So said Goldman Sachs CEO Lloyd Blankfein of the financial crisis of 2008. He likened its probability to four hurricanes hitting the East Coast in a single season.

Blankfein was reminded by the chairman of the Financial Crisis Inquiry Committee, Phil Angelides, that hurricanes are “acts of God.” Financial crises are manmade. Yet Blankfein was backed up by Jamie Dimon of JP Morgan, who said, “Somehow, we just missed … that home prices don’t go up forever.”

The story continues …..

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