“The financial crisis of 2008 was not caused by investment banks betting against the housing market in 2007. It was caused by the fact that too few investors - including all of the big investment banks - bet too heavily on the housing market in the years before 2007.”

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About James Surowiecki

American journalist

James Michael Surowiecki is an American journalist known for his writing on business and finance. He was a staff writer at The New Yorker. At The New Yorker, he wrote a regular column called "The Financial Page," which focused on business and finance. His work is associated with clear, public-facing commentary on economic topics.

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