Power & Market
Author:
Joseph Solis-Mullen
Online Publish Date:
While talk today of the 2008 subprime mortgage crisis that touched off the Great Recession tends to center mainly around the failure of regulators or bad individual actors at the level of banks and lenders, we should not forget that it was Fed policy from 1993 to 2005 that created the crucial conditions for the ultimate collapse. Put simply, the