In one sentence, describe what you think caused the current financial crisis?

I'm trying to see what people think.In one sentence, describe what you think caused the current financial crisis?Raw, unchecked fear and marketing stupidity.In one sentence, describe what you think caused the current financial crisis?
G. W. Bush's war on terror has cost our Federal government (thus taxpayers) trillions of dollars thus leading to borrowing from overseas and printing more American dollars that are now worth much (globally) less than they were before Bush held office.



I could blame 9/11 also...when the wars began. My business, the housing industry collapsed within a year of the attack. Fear factor on the part of investors and consumers alike.In one sentence, describe what you think caused the current financial crisis?Speculation drove up stock and real estate prices as too many people went into debt, then the resulting crash, coupled with corporate downsizing and outsourcing of American jobs, caused widespread job losses which in turn have driven down demand for consumer goods and have caused even more job losses.
The Community Reinvestment Act.



It was put through under Jimmy Carter. It required banks to make loans to minorities despite their poor financial status. Consequently, a disproportionate number of forclosures have hit the minority community. Just one example of why affirmative action doesn't work.In one sentence, describe what you think caused the current financial crisis?The fractional Reserve system.



It puts more debt into the market than there is actual money which means that the more money is lent the more foreclosures will have to take place so that some people can pay their own debts while others will languish under subprime intrest ratesIn one sentence, describe what you think caused the current financial crisis?
It's pretty much a spiral...



Possibly the government telling the bank to sell houses to people who aren't financially fit.



People taking loans from banks and not able to pay back.



Or it could be the huge amount of people pulling their money out of banks.



Or it could be.....
Banks lent money for home purchases based on the assumption that values would rise indefinitely, and not based on the buyer's ability to make mortgage payments.In one sentence, describe what you think caused the current financial crisis?
The abolition of a gold standard and the duplicity of the federal reserve have brought the dollar to ruin.
Too much borrowing, by citizens and especially by the government (banks, China).
Ditto #1 answer
Bush's' war on terrorism.
Yep, gotta go with greed. Gordon Gekko was wrong. Greed is not good.
People are greedy.
Greed (says it in one word)
Banks lending to people who can't pay back.
when gas started going up %26amp; up a few years ago
well in the uk id say it was down to millions of immigrants flooding the country who take advantage of our system