Interesting case built-up by Gurumurthy on the origins and processes behind the sub-prime crisis and debt economy of the US. You can disagree with him - but the guy is not a dimwitted innumerate like the Indian media.
I don't know if I believe it all ( I suspect Gurumurthy himself may have savings in stocks), but this is certainly a very good indictment of the Alan Greenspan regime. Gurumurthy thinks that the sub-prime crisis has been baking for the last 20 years - the dish is only now just done.
America consumption and indebtedness are at record levels - and the Fed (which in spite of it's name is actually not a federal government entity) is to blame - also to blame is the flooding of the real estate market with repackaged debt