Amid the current economic downturn, dubbed the “Great Recession,” it's natural to look for a single entity or person to blame. Big bank executives, professional investors and federal regulators have all been named as potential creators of the recession, with varying degrees of culpability. Regardless of who is to blame, the consequences of the mistakes made that led to the current crisis are clear. According to the Bureau of Labor Statistics, the current unemployment rate is 9.7%, with 9.3 million Americans unemployed (Bureau of Labor Statistics). Compared to a normal economic rate of two or three percent, it is clear that the decisions of one group of people have had a profound impact on the lives of millions of Americans. The real responsibility for this crisis lies with the leaders of the leaders who attempted to game the financial system through securitization and forced the US government to “bail out” their companies with taxpayer money. These executives, particularly those at AIG and Citigroup, should be subject to extreme salary caps for the length of time the American taxpayer owns controlling stakes in their companies, as punishment for causing the Great Recession. put out of work because of the actions of these leaders, the US financial markets themselves were pushed to the brink of collapse. Although global financial markets are not actually perfectly efficient, there is a corrective mechanism built into everyday market transactions. When prices are pushed down by heavy selling, either by large investors or by a movement in a stock, there are usually new buyers for those stocks at a cheaper price. Managers of...... middle of paper ......ssion, to use them as an example of risk taking on Wall Street. Works Cited Axelson, Ulf, and Sandeep Baliga. “Liquidity and manipulation of executive compensation systems.” Financial Studies Review 22.10 (2009): 3907-3939. ÉconLit. EBSCO. Internet. Jan. 24 2010. Bureau of Labor Statistics. “January 2010 Unemployment Statistics.” February 5, 2010. Bureau of Labor Statistics. February 8, 2010. Dew-Becker, Ian. "How much sunlight does it take to disinfect a conference room? A brief history of executive compensation regulation in America." CESifo Economic Studies 55.3-4 (2009):434-457. ÉconLit. EBSCO. Internet. January 24, 2010. Kandel, Eugene. “Seeking reasonable executive compensation.” Economic Studies CESifo55.3-4 (2009): 405-433. ÉconLit. EBSCO. Internet. January 24. 2010.