THE RUGGED INDIVIDUALIST                     

The Great Recession

The great recession was caused by our government. With the repeal of Glass-Steagall and the community reinvestment act our economy was forced into a housing bubble. A bubble that could only end in a disaster we now know as the great recession.
When the government forced banks to loan money to people everyone knew would default on their loans. It is not a surprise they defaulted.
When the government let commercial banks, merge with investment banks is not a surprise they would go crazy with money and take unnecessary risks.
The below videos explain the financial crisis in the simplest terms.