Bankers or bubbles: What caused the financial crisis?

Our readers reckon that greedy bankers played a bigger role in causing the global financial crisis, but Wharton professor Franklin Allen blames the real estate bubble.

Bankers or bubbles: What caused the financial crisis?
Don't blame greedy bankers, says Franklin Allen

We asked our readers about the causes of the crisis last week, and whether a real estate bubble or greedy bankers had played the bigger role. Voting was relatively close, but the banker bashers won out in the end.

The question was prompted by a speech given by Wharton finance professor Franklin Allen in New Zealand earlier this month. Speaking at the Financial Management Association’s Asian conference in Queenstown, Allen said that the real estate...

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