I’m not the OP, but there’s a whole book on the topic. Fascinating read if you ever get the chance.

A Keystone Cops level of professionalism displayed by the central bankers at the time.

Lords of Finance - https://www.amazon.com/Lords-Finance-Bankers-Broke-World/dp/...

Wasn't that a synopsis of Ben Bernanke's entire output over his whole career? Personally I don't completely agree, especially as Bernanke used that theory to justify some of his own questionable actions...