The Financial Crisis

Twenty years of cheap money by the government benefited not the public, but rather a band of bankers and intermediaries who encouraged the public to borrow by placing unrealistically high valuations on their assets. When these valuations proved false, a credit collapse followed.
Ironically, the message of Fannie May and Freddie Mac was that the government had become a major player in this shill game. Congressmen wooed their constituents risking the capital of coming generations by the profligacy of the current generation. For shame!