Here are some helpful videos to explain some of the recent financial crises (i.e. the credit crisis and the debt ceiling) in the US. While they obviously don’t tell the whole story, they give a basic idea on why these crises arose. Where do we turn to when both the free wheeling private market and the supposedly farsighted public congress can’t turn things around?
The Crisis of Credit 2008
The Debt Crisis 2011
What are the strongest underlying causes to such crises? Is the capitalist system? Human nature? Ineffective governments? Banks?