To semi-wade into this, the right wing libertarian argument that all government regulation is bad is bogus. To use the Canadian mortgage and banking sector as an example, Canada suffered far less and rode out/is riding out the recession far, far better than the USA precisely because our mortgage lenders/banks are more tightly regulated. It's a structural difference that prevented our banks from taking the massive risks with other people's money that the US financial sector did, resulting in the US housing bubble and the sub-prime mortgage debacle. And, yes, we still have our AAA credit rating.
Read some Matt Tiabbi Rolling Stone Politics | Taibblog | Matt Taibbi on Politics and the Economy if you really want to get into the weeds on this.
Also:
‪Quantitative Easing Explained‬‏ - YouTube
and...
It's the Economy, Dummkopf! | Business | Vanity Fair
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