I have a vague idea that it has something to do with credit default swaps; but (like everyone else) I'm still a little fuzzy on exactly how the whole mess started. This CRS report made a succinct chart that lists 26 causes AND counterarguments to each including aforementioned credit default swaps, "relaxed regulation of leverage", and my favorite, "human frailty". There's something very comforting about seeing such an orderly presentation of a decidedly disorderly situation.
Planet Money: Dept. Of Canned Debate
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