In response to:
good for the French voters.... Bankers caused this whole mess and the elitist right-wingers expect the working people to pay for it while the elites kick back and enjoy our ruin.... at least Hollande will pretend to make them pay to clean up their own mess. And good for the Greeks too. Goldman Sachs tanked their economy while everyone including the 'liberal' NPR blames the Greek unions who had hardly anything to do with it. Thatcherism/Reaganism has been proven a failure and it's time for it to go away... Bravo!
In the wake of an electoral victory over the center-right Nicolas Sarkozy, new French president-elect Francois Hollande received a phone call from President Obama. Francois Hollande won election as a French Socialist.
The White House says Obama told Francois Hollande that he looks forward to working with him on a range of shared economic and security challenges.Obama invited Hollande to visit the White House before this month's G-8 summit at Camp David, Md. Hollande is also expected to attend the NATO summit in Chicago later this month.
Hollande campaigned on raising tax rates...
http://cje.oxfordjournals.org/content/33/4/563.full#sec-11 - From the Cambridge Journal of Economics.
http://www.canstar.com.au/global-financial-crisis/ - Interesting. The people in Australia think it started with our sub-prime mortgage bubble?!
And lastly, The IMF seems to think it has to do with (ii) monetary policy that might have been too loose, (iii) inadequate supervision and regulation. - http://www.imf.org/external/pubs/ft/wp/2010/wp10265.pdf
2nd - this is the 1st and, hopefully, last time anyone will ever see me leverage the IMF as a supporting source.
I find it ironic that the uber-"European" governing body supports the Conservative idea that government needs to get the hell outta the way.