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Entire books have been written on this subject, both about the specific 2008 crash and about financial panics in general, and one SE answer isn't going to cover the full set of categories of miscreants, or convey enough understanding of their misdeeds. We can highlight a few, though. Firstly you have the creation (or, well, enormous expansion) of the ...


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Unless you have a particularly civically-educated society, there would be no benefit. If times are good, and you either raise taxes or don't cut taxes and accumulate a rainy day fund or pay down debt, the average short-attention-span historically-illiterate voter will just see it as soaking the taxpayer for extra funds when because the money is there to be ...


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