2008: What Really Happened

Description

A definitive look at how the financial crisis of 2008 actually happened, peeling away years worth of misdirection from the expert class.Over 15 years after the Great Financial Crisis of 2008, the American public still lacks a clear understanding of what caused the housing bubble that led to the most serious panic since the Great Depression.Many have pointed to deregulation, but have failed to show how a gradual trend of deregulation could have caused either the sudden spurt in housing prices that triggered the bubble or the discrete turning points thereafter. Others have pointed fingers at the Fed, but have yet to explain why the bubble began prior to the Fed's "easy money" policies or why prior periods of easy money didn't also lead to housing bubbles. Still others have blamed Fannie Mae and Freddie Mac, but have failed to explain why so much of the financing that fueled the bubble also came from major commercial and investment banks.In 2008:...