John Cassidy Still Has Not Heard About the Housing Bubble

John Cassidy, the long time economics writer for the New Yorker, apparently still has not gotten word about the housing bubble: you know, that $8 trillion run-up in house prices that collapsed and caused the financial crisis and the downturn. In a piece telling readers that President Obama has done about as good as could have been expected, he commented:

"And bailing out underwater homeowners on the scale necessary to raise house prices would have been a huge logistical and political...