Randy Wray on crises, this one and the next

I just happend in an interview that Randy Wray gave for the Mosler Economic Policy Center at Franklin College Switzerland in May. It is one the best short summaries I have seen.

Interview with Randy Wray, The Next Crisis — Part I

Randy doesn't make as much of the role of fraud as I would have in light of the work of Bill Black in enumerating the list of factors resulting in the crisis. However, Randy is a colleague of Black and has co-authored with him, so I don't think he would disagree that this factor needs to be emphasized, too.