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The article assigns responsibility to numerous parties for the crisis in the U.S. involving subprime mortgages. Amateur real estate investors helped drive up prices in certain markets with ill considered purchases. Mortgage brokers arranged loans to people with questionable finances. Real estate appraisers assented to inflated house values.

The article focuses on recession fears based on the decline in the housing market, lack of job creation and a slowdown in retail sales. According to economists, a recession is defined as two or more consecutive quarters of gross domestic product decline. The biggest driver in the economy has been the slump in the real estate market. Information is provided for the state of the retail sector, unemployment rate and the National Bureau of Economic Research's definition of recession. INSET: Hurricane Holes.

This article presents an interview with chief executive officer of BlackRock, Larry Fink. The first question asks about his position on interest rates. Fink says that the U.S. Federal Reserve should not ease the rates. When asked about the current liquidity crisis, Fink replies that the situation warrants the central banks' injecting liquidity. Fink also says he is not buying any subprime-mortgage-backed securities at this time.