Watch these videos:

The Crisis of Credit Visualized – HDhttps://www.youtube.com/watch?v=bx_LWm6_6tA

The 2008 Financial Crisis: Crash Course Economics #12https://www.youtube.com/watch?v=GPOv72Awo68

Additionally, read “Did the Fed Cause the Great Recession?” in Chapter 20 – Monetary Policy. 

Provide your thoughts on this historical downturn in our economy.  Distinguish the culprit(s).  How is the banking crisis a strong case for moral hazard?