A loose monetary policy that created lots of cheap money, government interventions into the housing market, and the hubris of Wall Street firms deemed "too big to fail" combined to send the world economy into a tailspin, argues Swedish author Johan Norberg.

Reason senior editor Michael C. Moynihan sat down with author Norberg to discuss his latest book Financial Fiasco: How America's Infatuation with Homeownership and Easy Money Created the Economic Crisis, an overview of what caused the current financial crisis (and what did not) and how politicians of all parties and all ideologies helped make the problem much worse.

Approximately 10 minutes. Shot by Meredith Bragg and Dan Hayes. Edited by Dan Hayes.

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