ABSTRACT
This chapter focuses on the ethics of the government policies that led up to the financial crisis, rather than the ethics of those in the financial industry. The factors that led to the crisis will be discussed within an ethical context. Stan J. Liebowitz provides a very comprehensive analysis of the government policies that set the stage for problems in the mortgage market that led to the economic crisis. There was the perception that there were procedural problems that led up to the financial crisis, and the biggest procedural reaction was the passage of the Dodd-Frank Act in July 2010, which strengthened regulations in the financial industry. Looking at the policy response to the economic crisis, the claim has some support. The causes of the economic crisis that will be discussed in the chapter focus on United States housing policies, even while recognizing the international scope of the crisis.
