Tsunami on Main Street?

This Minneapolis Fed paper may be the most cited (or at least the most viewed, read, mentioned, talked about, celebrated ...) of 2008.  It is easy to read, with many fine graphics.  My favorite:

Kudos to the authors.  Full citation is:

Myths about the Financial Crisis of 2008
V.V. Chari, Lawrence Christiano, and Patrick J. Kehoe
Working Paper 666
October 2008
Federal Reserve Bank of Minneapolis
Research Department