Blame Washington More Than Wall Street for the Financial Crisis
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The 2008 financial crisis threw the U.S. economy into recession, devastated its housing and stock markets, and lost 5.5 million American jobs. While Wall Street created destabilizing structured securities and investment banking firms over-leveraged their often illiquid assets, the Fed supplied far too much credit and Washington failed to provide the regulation and oversight that would have prevented crisis. Who’s to blame?
Origins of The Financial Crisis
NYT Crisis & Stimulus Summaries
Government
Individuals to Blame
Recession
Reporters
Regulation
Housing Policy
Wall Street
Solutions