Who Was Responsible for the Financial Crisis of 2007-2009

question 61

Multiple Choice

Who was responsible for the financial crisis of 2007-2009?

• A) The U.S. Federal Reserve, for its policy of easy money
• B) The U.S. government, for pushing banks to expand credit for low-income housing
• C) Bankers, who aggressively promoted and resold subprime mortgages
• D) The U.S. Federal Reserve, the U.S. government, rating agencies, and bankers

---

Definitions:

Onlooker Play

This is a stage of play where children watch others play but do not join in, often serving as a way for them to learn about social interactions and the rules of games.

Empathy

The ability to understand and share the feelings of another person, fostering a sense of compassion and connection.

Self-Reliance

Dependence on one's own powers and resources rather than those of others.

Ethnocentrism

The belief in the superiority of one's own ethnic group or culture, often accompanied by a disregard for other cultures.