But no. The expedient explanation for the political classes is that failures in the capitalist system and greed are to blame for the economic meltdown. This is a great boon for the big government types because it puts them in the driver's seat. But, of course, the collapse is the fault of the government - primarily due to reckless monetary policy (needed to paper over reckless fiscal policy), and massive government interference in the business of making mortgages.
See Stanford professor, John Taylor's analysis:
Government Intervention, Not the Lehman Collapse, Caused the Financial Crisis - WSJ.com
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