Libertarians, can you please explain how the Federal Reserve caused the recession and not?

Derivative spending, subprime mortgages, and other greedy tactics of the corporate elite were responsible for the recession? How would laissez faire economics have fixed this? Sorry for the smugness, I'm certainly not economist, but I am an educated thinking man, and I can see no parallel to reality in blaming the Federal Reserve for it... but I am open to intellectual discussion on it