Steve Keen Economist, Oz Debtwatch

Another day, another financial collapse. The effective nationalisation of Fannie Mae and Freddie Mac last week was initially greeted by the market, yet again, as The End Of The Crisis. Then Lehman Brothers teetered and finally fell into bankruptcy. The crisis was, once again, alive and well. There is a pattern here: a rescue of one once venerable institution with what appear to be oodles of money, a brief euphoria, and then yet another failure at often an even bigger institution. The key collapse here, and the one that makes it obvious that no rescue is going to stop this crisis, was the failure of Fannie and Freddie. Read more here