The beauty of the financial situation is that there's something for
everyone. It was a real team effort by multitudes of players.
If you want to blame evil capitalist lenders and banks, there was
certainly plenty of greed and fraud to point your finger at.
If you want to blame big government, the CRA and Freddie and Fannie
give lots of opportunity for that sort of thing.
Hate mark-to-market regulations? Go ahead and blame that. Hate short
selling? Sure, why not blame that? Sarbanes-Oxley is even fair game
if you don't mind stretching a bit.
You think Bush and/or Congress suck? Certainly plenty of ammo for
That's the wonderful thing. No matter what your ideology, there's
someone for you to blame!!! And that blame proves beyond a shadow of
a doubt that your ideology has been perfectly flawless all these
years!!! What could be better than that?
I haven't seen so many people so happy ever!!!