Why The Federal Reserve Is Responsible For the Mortgage Loan Meltdown | The Personal Finance Program: "It was the Federal Reserve Bank, and only the Federal Reserve, that was responsible for increasing the ratio between how much money a bank had on deposit and how much it could lend to 30-1. Did you see Jon Stewart hammer Jim Cramer, the host of CNBC’s Mad Money, on who did this? Well, the answer is, the Federal Reserve Bank did it. President Barack Obama’s failure to replace Ben Bernake at Treasury and the failure of Congress to set about replacing the Federal Reserve Banking System are unconscionable.
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