Why Aren’t Any Bankers in Prison for Causing the Financial Crisis? (2016)
Bankers aren't the cause of the financial crisis. Societies have always had a scapegoat to conveniently break societal tensions, previously with physical sacrifices, and presently with sacrificing the money of scapegoated individuals.<p>It's unlikely that a single sector of economy could suddenly cause a widespread collapse, especially without unrecoverable failure. A more cogent explanation is the behavior of the Federal Reserve. Similar to the Great Depression, the growth rate of the M3 was reduced by around 10 percent during the peaks of the recessions.<p><i>Reading: <a href="https://iea.org.uk/blog/a-monetarist-explanation-of-the-great-recession*" rel="nofollow">https://iea.org.uk/blog/a-monetarist-explanation-of-the-grea...</a>