Economists Carmen Reinhart and Kenneth Rogoff answer that question(about the cause of the current crisis) in a provocative new book, "This Time Is Different."
"If there is one common theme to the vast range of crises we consider in this book, it is that excessive debt accumulation, whether it be by the government, banks, corporations, or consumers, often poses greater systemic risks than it seems during a boom," they wrote.
"Infusions of cash can make a government look like it is providing greater growth to its economy than it really is..”
Read More: "This Time Is Different"