Philosophy and the Financial Crisis

John A. Allison is the president of the Cato Institute, a libertarian think tank based in Washington D.C.. Until 2008, he was also the CEO of one of America's leading banks (BB&T). Allison lays much of the blame for the financial crisis at the feet of the Federal Reserve and the government.  Ultimately, however, he suggest that the reasons behind the financial crisis are philosophical.
Below is a video of Allison talking about the reasons for the financial crisis, which is interesting because he was an insider. Please note that this should not be viewed uncritically as Allison's ideological bent colours his analysis. 

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