- Bernanke blames the housing collapse on sub-prime borrowers taking out 'liars loans'
- Insurance offered by the likes of AIG amplified the risks of these evil borrowers
- Heeding lessons from the Great Depression, the Fed took vigorous actions to stem the financial panic and support key financial institutions (Goldman and JPMorgan)
(Video posting has been delayed by the FOMC. We will provide the footage as soon as it is posted by the Fed)
Full Propaganda Powerpoint here from the FOMC