Was the 'Credit Crunch' a Myth Used to Sell a Trillion-Dollar Scam?
Even as the media continue to repeat the claim that credit has frozen up, evidence has emerged suggesting the entire story is wrong.
For the most part, the press has continued to echo Bush's central assertion that there's a "credit crunch" preventing even qualified borrowers -- that's the key point -- from getting loans, and it's now part of the conventional wisdom.
But a number of economists are questionioning the factual basis of the credit crunch narrative.
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