Mark Thornton: Financial Reform Bill Likely to do More Harm Than Good
Keynesian economists might not have seen the housing bubble and credit crisis, but Mark Thornton did. He wrote about the housing bubble as early as February 2004. He predicted the top of the housing stocks in August of 2005 and his Skyscraper model sent a global crisis signal in August of 2007. He sees more trouble ahead, even with passage of the massive financial reform bill that President Obama and supporters say will protect consumer and the economy.