In his book “The Art of Thinking Clearly", the Swiss author Rolf Dobelli writes: “in 2007, economic experts painted a rosy picture for the coming years. However, twelve months later, the financial markets imploded. Asked about the crisis, the same experts enumerated its causes: monetary expansion under Greenspan, lax validation of mortgages, corrupt rating agencies, low capital requirements, and so forth.
Roger W Ferguson, Jr: Information technology in banking and supervision  Remarks by Roger W Ferguson, Jr, Vice-Chairman of the Board of Governors of the US Federal Reserve System, at the Financial Services Conference 2000, St. Louis University, St. Louis, Missouri on 20 October 2000.