{"id":1241,"date":"2008-12-04T21:42:09","date_gmt":"2008-12-05T01:42:09","guid":{"rendered":"http:\/\/ssgreenberg.name\/PoliticsBlog\/?p=1241"},"modified":"2008-12-04T21:42:09","modified_gmt":"2008-12-05T01:42:09","slug":"brad-delong-explains-it-again","status":"publish","type":"post","link":"https:\/\/ssgreenberg.name\/PoliticsBlog\/2008\/12\/04\/brad-delong-explains-it-again\/","title":{"rendered":"Brad DeLong Explains it Again"},"content":{"rendered":"<p>In his <a title=\"Book review\" href=\"http:\/\/www.latimes.com\/entertainment\/la-et-book1-2008dec01,0,3173300.story\" target=\"_blank\"><strong>review <\/strong><\/a>of Paul Krugman&#8217;s book <em>The Return of Depression Economics and the Crisis of 2008<\/em>, Brad Delong explains:<\/p>\n<blockquote><p>And the problem this time is that we did not understand the degree to which all the mortgage finance companies, investment conduits, MBS vehicles, CDO tranches, monolines and other non-bank financial players that had taken on the role of banks &#8212; of making long-term durable risky investments yet promising those who contributed the funds that their funds were liquid and safe &#8212; without being regulated like banks.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>In his review of Paul Krugman&#8217;s book The Return of Depression Economics and the Crisis of 2008, Brad Delong explains: And the problem this time is that we did not understand the degree to which all the mortgage finance companies, investment conduits, MBS vehicles, CDO tranches, monolines and other non-bank financial players that had taken [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[166],"tags":[],"class_list":{"0":"post-1241","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-stevegsposts","7":"czr-hentry"},"_links":{"self":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/1241","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/comments?post=1241"}],"version-history":[{"count":1,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/1241\/revisions"}],"predecessor-version":[{"id":1242,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/1241\/revisions\/1242"}],"wp:attachment":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/media?parent=1241"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/categories?post=1241"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/tags?post=1241"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}