Originally Posted by rootb33r
... the economic recession is a product of poor regulation. There were incentives for banks to loan out far too much credit, and to people who didn't deserve it. Then there were the credit default swaps, but don't get me started on those.
Basically, it's the fault of the financial regulatory system and the systemic abuse of the lax regulations by financial institutions. Too much greed on Wall Street; it had nothing to do with the President or Congress.
Do you know why banks loaned out far too much credit?
It sure did have to do with Congress.