The worst economic turmoil since the Great Depression is not a natural phenomenon but a man-made disaster in which we all played a part. In the second part of a week-long series looking behind the slump, Guardian City editor Julia Finch picks out the individuals who have led us into the current crisis.

Alan Greenspan, chairman of US Federal Reserve 1987- 2006

Only a couple of years ago the long-serving chairman of the Fed, a committed free marketeer who had steered the US economy through crises ranging from the 1987 stockmarket collapse through to the aftermath of the 9/11 attacks, was lauded with star status, named the "oracle" and "the maestro". Now he is viewed as one of those most culpable for the crisis. He is blamed for allowing the housing bubble to develop as a result of his low interest rates and lack of regulation in mortgage lending. He backed sub-prime lending and urged homebuyers to swap fixed-rate mortgages for variable rate deals, which left borrowers unable to pay when interest rates rose....

http://www.theguardian.com/business/2009...viduals-economy

Interesting list.

The Leftist Guardian should have just stopped at Greenspan and called it a day. Citing the American people and footnoting the Brits is typical bullshit I expect from them. BTW, no honorable mention for Jamie Dimon?