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This paper seeks to determine what caused the economic recession beginning in 2007 and continuing into at least 2010. A review of existing literature regarding the deregulation of banks, Federal monetary policy, financial engineering by large financial institutions and the decisions made by consumers is examined for evidence of causality. After reviewing the decisions and actions of consumers, institutions, and government agencies it is determined that no one group could have caused the economic crisis alone. Through the actions and miss-actions of all three groups market conditions were created which reviewing historical patterns or conducting single source simulations could not have foreseen.
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