: Morris critiques the Federal Reserve and other leaders for downplaying the growing bubble and failing to intervene until the system was already collapsing.
Morris argues that the meltdown was not a sudden accident but the result of a quarter-century of "free-market zealotry," reckless lending, and extreme leverage. He traces the roots back to the late 1970s and 1980s, noting how deregulation and the search for excessive profit eventually led Wall Street into gross excess. Key Drivers of the Meltdown the two trillion dollar meltdown
: Major investment banks and hedge funds operated with astronomical levels of borrowed money, meaning even small losses could lead to total insolvency. : Morris critiques the Federal Reserve and other