Jackson50 on 22 September 2008
The crisis lies squarely at the feet of the Federal Reserve. Their astonishingly low interest rates caused the housing bubble that led to this mess. When credit is cheap, individuals tend to borrow too much and spend recklessly. I admit some Wall Street firms and banks are far from blameless, but their actions can be attributed to the policies of the Fed. They caused the Great Depression with their astonishingly low interest rates in the 1920s, and they are doing it again.
