Question

On your own, locate three reputable sources on the causes of the 2008 financial crisis. At least one such source should be a primary source.

Answer 1

"The financial crisis and recession of 2008 and 2009 were serious blows to the U.S. economy, so it is important to step back and understand what caused them. While some people have pointed to financial deregulation and private-sector greed as the sources of the problems, it was actually misguided monetary and housing policies that were the main causes of the crisis.

The expansion in risky mortgages to underqualified borrowers was encouraged by the federal government. The growth of "creative" nonprime lending followed Congress's strengthening of the Community Reinvestment Act, the Federal Housing Administration's loosening of down-payment standards, and the Department of Housing and Urban Development's pressuring of lenders to extend mortgages to borrowers who previously would not have qualified."