Epicenter. Paradoxes of the Global Crisis

The author believes that the source of the crisis was the policy of the White House, Congress, and the Federal Reserve System from 2001 to 2007. The paradox is that the actions leading to the crisis were rational, had a firm basis or in academic economic theories, or in practical activities, as well as in personal biographies of participants. The financial crisis, thus, turned out to be not only the collapse of savings and assets, but also a disaster of many popular political and economic theories. Be that as it may, to understand the nature of the crisis, it is necessary to study its occurrence and development in the United States. The main culprit of the crisis had to act in difficult dynamic conditions. They accepted rational solutions. Their actions could lead to unpredictable consequences, but had the meaning for those who committed them. Analogy with chess: The moves of the loser are rational from its point of view, but, nevertheless, erroneous