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Why do people claim that Wall Street is the cause of problems?

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Hi!

I am curious. I tried looking up on it but I think there are many aspects of the recession to simply go around and blame Wall Street. It is also because of government inefficiency in Keynesian economics. I wonder if Austrian economics is the way to go with no intervention whatsoever. Right now in America, I would pick Ron Paul over Obama as I believe he can reduce government spending and focus on the debt. What do you think? Opinions welcome.

I am Canadian by the way, so forgive me if I am missing something.
 
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