Don, it would be possible to argue that Wilson's actions together resulted in a 20% reduction in the real worth of earnings (it might be an unsuccessful argument, or a successful one, but that is not the point). But it wasn't and still isn't what you said.

Sapper, it is really very simple. The point of capitalism is to take from the poor to give to the rich. The point of any kind of socialism or communism is the opposite. Can you really not see where the justice lies?

What do you thnk really drove the sub-prime market? It was always bound to fail. If you lend money to a man who cannot afford to repay it, and then charge him more as a result, are you making default on his loan more or less likely? So what drove it? Why, the fee-hunters, of course - they are long gone with their commissions in their pockets, while lender and borrower alike fight to the death over the remaining bare bones.