<Li> the failure of gatekeepers, including auditors, boards of directors, Wall Street analysts, and career politicians . </Li> <P> An analysis conducted by Mark Roeder, a former executive at the Swiss - based UBS Bank, suggested that large - scale momentum, or The Big Mo "played a pivotal role" in the 2008--09 global financial crisis . Roeder suggested that "recent technological advances, such as computer - driven trading programs, together with the increasingly interconnected nature of markets, has magnified the momentum effect . This has made the financial sector inherently unstable ." </P> <P> Robert Reich attributes the current economic downturn to the stagnation of wages in the United States, particularly those of the hourly workers who comprise 80% of the workforce . He says this stagnation forced the population to borrow to meet the cost of living . </P> <P> Economists Ailsa McKay and Margunn Bjørnholt argue that the financial crisis and the response to it revealed a crisis of ideas in mainstream economics and within the economics profession, and call for a reshaping of both the economy, economic theory and the economics profession . </P>

The first great financial boom for the government came with