Luzhkov saw the cause of the crisis in monetary policy.

Moscow Mayor Yuri Luzhkov, in an interview with the newspaper Kommersant, published on Tuesday morning, called the primary cause of the financial crisis in Russia.
According to the Mayor of Moscow, the crisis in Russia has arisen because of the monetary economic policy as evidenced in the imperfect system of lending business. So, like Luzhkov, the refinancing rate was unacceptable, the authorities at the level of 13 per cent, which entrepreneurs prefer to borrow abroad, which, in turn, led to a crisis in Russia. The outcome of such an approach the state will be a massive bankrostvo enterprises, as none of them under the circumstances would not be able to return the loans on such rates.
Solutions could serve as a transition from the policies of monetarism to capitalism "with full internal market, including the production of its products." In this situation, I'm sure the mayor of Moscow, the State should move to more drastic measures, namely the nationalization of entire sectors of the economy in order to "maximize pain to go this time." Subsequently, after the crisis period, the Government should once again put the assets of the nationalized enterprises for sale. In doing so, underlines Luzhkov, prices for which will be sold to businesses and industries must conform to their actual value.
In the first instance should be brought to the nationalization of the banking sector, particularly banks, serving the public. Banks, which, according to Luzhkov, "just called the bank" and not serving the people, should be "bankrupt" without any thought.
Moreover, Luzhkov is confident that, in order to overcome the crisis in governance structure should involve representatives of business community. Moscow Mayor also lamented the fact that the state apparatus under the pressure of the authorities have left almost all the "entity" Soviet times. This Luzhkov stressed that the most resilient to the crisis were just those industries which were the leaders of the "fact" of time. Now small and medium businesses are gradually appearing like the heads, which considers Luzhkov, and should be involved in public works.