There have been some crazy financial conspiracies circulating the internet. Just proving that the internet is a place where anything goes.
1. Financial Crisis started by journalists / democrats who wished to see Barack Obama elected. (think progress)
2. Financial crisis evidence of economic terrorism.
This is patently absurd and and gives the impression the crisis could be precipitated by a few random comments by journalists and oversees terrorist operatives.
In fact the crisis was many years in the making. Starting with economic policies pursued in the Bush, Greenspan era of 2000-2006.
An long boom in houses fuelled by low interest rates and over optimistic analysis of the economy and financial markets. See: Boom and bust in housing markets and subprime crisis for analysis of the long period of policies which led to a boom and bust situation in house prices and mortgage lending.
Once the banks were overloaded with toxic assets and mortgages lenders had no chance of repaying, the underlying fragility of the system meant it was only a matter of time before the markets and banks imploded.
Some have even gone so far as to suggest that the crisis is a result of economic terrorism – with mirky terrorirsts buying and selling to undermine markets. But, this represents only a naive view of the situation. The crisis was based on economic fundamentals not a few foreigners selling shares at the wrong time.
If you are sitting on losses of $600bn, the trigger is almost irrelevant.